{"product_id":"9781848219458-phase-type-distribution","title":"Phase Type Distributions","description":"\u003cmeta content=\"text\/html; charset=utf-8\" http-equiv=\"Content-Type\"\u003e\u003cp\u003e\u003cspan\u003eTheory and Application\u003cbr\u003ePhase type distributions are widely applicable modeling and statistical tools for non-negative random quantities. They are built on Markov chains, which provide a simple, intuitive stochastic interpretation for their use. \u003ci\u003ePhase Type Distribution\u003c\/i\u003e starts from the Markov chain-based definition of phase type distributions and presents many interesting properties, which follow from the basic definition. \u003cbr\u003e\u003cbr\u003eAs a general family of non-negative distributions with nice analytical properties, phase type distributions can be used for approximating experimental distributions by fitting or by moments matching; and, for discrete event simulation of real word systems with stochastic timing, such as production systems, service operations, communication networks, etc. This book summarizes the up-to-date fitting, matching and simulation methods, and presents the limits of flexibility of phase type distributions of a given order. \u003cbr\u003e\u003cbr\u003eAdditionally, this book lists numerical examples that support the intuitive understanding of the analytical descriptions and software tools that handle phase type distributions.\u003cbr\u003e\u003cbr\u003e\u003c\/span\u003e\u003c\/p\u003e","brand":"Rarewaves","offers":[{"title":"Default Title","offer_id":55788949832054,"sku":"9781848219458","price":158.61,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0092\/7504\/8033\/files\/orig_34942410.jpg?v=1750903849","url":"https:\/\/www.rarewaves.com\/products\/9781848219458-phase-type-distribution","provider":"Rarewaves.com","version":"1.0","type":"link"}