Accession Number:

AD0701888

Title:

RENEWAL REWARD PROCESSES

Descriptive Note:

Research rept.

Corporate Author:

CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER

Personal Author(s):

• Brown, Mark
• Ross, Sheldon M.

Report Date:

1969-09-01

Pagination or Media Count:

18.0

Abstract:

The paper considers a process in which rewards are being earned and for which there exist time points at which the process begins anew--that is, that there exists an embedded renewal process. An expression for the asymptotic mean reward earned during any time interval is then obtained. In the final section the special case of a regenerative reward process is considered and a simple expression is presented for the long run average reward earned per unit time.

Descriptors:

• *STOCHASTIC PROCESSES
• PROBABILITY
• QUEUEING THEORY
• STATISTICAL DISTRIBUTIONS
• THEOREMS

Subject Categories:

• Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE