This document summarizes key concepts about waiting line models:
1. Waiting line models use queueing theory to help managers understand and make decisions about operating characteristics of waiting lines like average wait times and number of customers in the system.
2. Common characteristics of waiting line systems include single channel lines, random and independent customer arrivals modeled by the Poisson distribution, and exponentially distributed service times.
3. The document outlines formulas for calculating operating characteristics of single and multiple channel models based on arrival and service rates when arrivals follow Poisson and service times are exponential.