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Renewal Theory

In: Probability and Statistical Models

Author

Listed:
  • 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)

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.

Suggested Citation

  • Arjun K. Gupta & Wei-Bin Zeng & Yanhong Wu, 2010. "Renewal Theory," Springer Books, in: Probability and Statistical Models, edition 0, chapter 0, pages 159-178, Springer.
  • Handle: RePEc:spr:sprchp:978-0-8176-4987-6_8
    DOI: 10.1007/978-0-8176-4987-6_8
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