The sum of the periods spent waiting by a process in the ready queue is called:

Waiting Time is the amount of time a process spends in the ready queue, waiting to be allotted the CPU. In mathematical terms:
Waiting Time = Turnaround Time − Burst Time
where:

  • Turnaround Time is the total time from submission to completion of a process.
  • Burst Time is the total time the process spends executing on the CPU.