Wiktionary
n. (context mathematics English) The study of the behaviour of queues, and of stochastic processes modelled on them.
Wikipedia
Queueing theory is the mathematical study of waiting lines, or queues. In queueing theory a model is constructed so that queue lengths and waiting time can be predicted. Queueing theory is generally considered a branch of operations research because the results are often used when making business decisions about the resources needed to provide a service.
Queueing theory has its origins in research by Agner Krarup Erlang when he created models to describe the Copenhagen telephone exchange. The ideas have since seen applications including telecommunication, traffic engineering, computing and the design of factories, shops, offices and hospitals.