Article ID: | iaor19962227 |
Country: | United Kingdom |
Volume: | 46 |
Issue: | 11 |
Start Page Number: | 1352 |
End Page Number: | 1364 |
Publication Date: | Nov 1995 |
Journal: | Journal of the Operational Research Society |
Authors: | Chaudhry M.L. |
Keywords: | probability |
This paper presents a unified approach to finding both the mean (the so-called renewal function) and variance of the number of renewals in continuous time. Basically, it deals with three mutually exclusive situations depending on whether the inter-renewal time distribution has a closed-form (i) rational Laplace-Stieltjes transform (L-ST); (ii) irrational L-ST or (iii) it cannot be represented by a closed-form L-ST. Explicit closed-form expressions are obtained (in terms of roots) for both the mean and the variance. Asymptotic expressions in terms of roots are also obtained for large