Alkaline fuel cells are one of the low cost types of fuel cells. In this contribution, the performance of an alkaline fuel cell was investigated by varying different operational parameters. The cell was tested under four different electrolyte concentrations and three different levels of anode flow rates. The results of the test revealed that the efficiency of the cell increases with the increase in electrolyte concentration. Anode flow rate was not found to have a considerable impact on the cell performance. Impedance spectroscopy has been conducted to validate the mathematical model and further investigate ohmic resistance, anode and cathode activation losses, and mass transport losses. The optimal level of electrolyte concentration and anode flow rate for an alkaline fuel cell has been deduced through modeling and statistical analysis.