5.3. At the beginning of each period, customers arrive at a taxi stand at times of a...

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5.3. At the beginning of each period, customers arrive at a taxi stand at times of a renewal process with distribution law F(x). Assume an unlimited supply of cabs, such as might occur at an airport. Suppose that each customer pays a random fee at the stand following the distribution law G(x), for x > 0. Write an expression for the sum W(t) of money collected at the stand by time t, and then determine the limit expectation

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An Introduction To Stochastic Modeling

ISBN: 9780126848878

3rd Edition

Authors: Samuel Karlin, Howard M. Taylor

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