I remember queueing theory from the "Automatic telephony" class we had at the university. It was used to solve the problem of how many operators you needed on your call center to have a waiting time of s seconds considering an average call time of s1 seconds and a poisson distribution of incoming calls with a rate r1. Of course queueing theory had various other applications (like the buffers of routers) but the call center one is the most interesting for me.