The equation l = λw represents a fundamental relationship in queuing theory, specifically derived from Little's Law. In this formula, 'l' denotes the average number of items in a system, 'λ' is the average arrival rate of items to the system, and 'w' stands for the average time an item spends in the system. This relationship is crucial in understanding how different variables interact within a queuing model, allowing for the effective analysis and optimization of systems.
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