The manufacturing industry has a great impact on the economic growth of countries. It is, therefore, crucial to master the skills of the production system by mathematical tools that enable the evaluation of the production systems’ performance measures. Four mathematical approaches toward the modeling of steady-state behavior of serial Bernoulli production lines were considered in this study, namely, the analytical approach, the finite state method, the aggregation procedure, and numerical modeling. The accuracy of the performance measures determined using the semi-analytical methods and the numerical approach was validated using numerous theoretical examples and the results obtained using the analytical model. All of the considered methods demonstrated relevant reliability, regardless of the different theoretical backgrounds.