Renewal and Regenerative Processes
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Renewal and regenerative processes are models of stochastic phenomena in which an event (or combination of events) occurs repeatedly over time, and the times between occurrences are i.i.d. Models of such phenomena typically focus on determining limiting averages for costs or other system parameters, or establishing whether certain probabilities or expected values for a system converge over time, and evaluating their limits.
KeywordsRegenerative Process Poisson Process Renewal Process Sojourn Time Renewal Time
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