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The key formulas are: Average Queue Length $L = \frac{\lambda}{\mu - \lambda}$, Average Waiting Time $W = \frac{1}{\mu - \lambda}$, and Utilization $\rho = \frac{\lambda}{\mu}$.

Conditions: The model is $M/M/1$.; $\lambda$ is the arrival rate.; $\mu$ is the service rate.; $\lambda < \mu$ for stability.

The key formulas are: Average Queue Length $L = \frac{\lambda}{\mu - \lambda}$, Average Waiting Time $W = \frac{1}{\mu - \lambda}$, and Utilization $\rho = \frac{\lambda}{\mu}$.

Conditions: The model is $M/M/1$.; $\lambda$ is the arrival rate.; $\mu$ is the service rate.; $\lambda < \mu$ for stability.