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Renewal Process

  • Esra BasEmail author
Chapter

Abstract

The first part of this chapter has been devoted to the basic terms related to a renewal process including the renewal function and renewal equation. The second part provided important theorems such as limit theorem, elementary renewal theorem, and renewal reward process, and some other properties such as the excess, age, and spread of a renewal process, inspection paradox, and central limit theorem for a renewal process. In the third part of the chapter, the alternating renewal process has been introduced as an example of a regenerative process. The concepts were illustrated by using some examples and problems including the ones related to the departures of the buses, and the system failures.

Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Industrial EngineeringIstanbul Technical UniversityIstanbulTurkey

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