Theoretical Statistics
Little's Law is a fundamental theorem in queueing theory that relates the average number of items in a queuing system to the average arrival rate of items and the average time an item spends in the system. It states that the average number of items (L) in a stable system is equal to the arrival rate (λ) multiplied by the average time (W) an item spends in the system, expressed as L = λW. This relationship is essential for analyzing various types of processes, including Poisson processes.
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