Renewal Theory

Arjun K. Gupta (), Wei-Bin Zeng () and Yanhong Wu ()
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Arjun K. Gupta: Bowling Green State University, Department of Mathematics and Statistics
Wei-Bin Zeng: University of Louisville, Department of Mathematics
Yanhong Wu: California State University Stanislaus, Department of Mathematics

Chapter Chapter 8 in Probability and Statistical Models, 2010, pp 159-178 from Springer

Abstract: Abstract The renewal theory plays a key role in many applied probability areas, such as replacement policies in reliability, ruin probability in insurance mathematics, and system analysis in queueing theory. In this chapter, we shall first introduce the renewal theorem and its extensions including the key renewal theorem. Then we shall study some extended renewal processes, such as the delayed renewal process and defective renewal process. Meanwhile, we study the properties of the renewal functions under some special underlying distribution function classes.

Keywords: Renewal Process; Residual Life; Interarrival Time; Renewal Theory; Renewal Equation (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/978-0-8176-4987-6_8

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