Renewal Theory Background

  • İzzet Şahin
Part of the Bilkent University Lecture Series book series (BILKENT)

Abstract

A renewal process may be defined as a sequence {X n , n = 1, 2,...} of independent, identically distributed random variables that are placed one after another. We may think of X n as the interval from the n — 1st to the n-th occurrences of an event,although X n may have nothing to do with time and may not separate events as such. In this chapter, we provide an informal review of the basic concepts and results in renewal theory and introduce the interval distributions of interest in the sequel. We also report some new results, both theoretical and empirical, that are required for later use.

Keywords

Renewal Process Recurrence Time Computational Issue Interval Distribution Inverse Gaussian Distribution 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1990

Authors and Affiliations

  • İzzet Şahin
    • 1
  1. 1.School of Business AdministrationUniversity of Wisconsin-MilwaukeeMilwaukeeUSA

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