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Quantifying the Inspection Paradox with Random Time.

Quantifying the Inspection Paradox with Random Time.

Authors :
Rauwolf, Diana
Kamps, Udo
Source :
American Statistician; Aug2023, Vol. 77 Issue 3, p274-282, 9p
Publication Year :
2023

Abstract

The well-known inspection paradox of renewal theory states that, in expectation, the inspection interval is larger than a common renewal interval, in general. For a random inspection time, which includes the deterministic case, and a delayed renewal process, representations of the expected length of an inspection interval and related inequalities in terms of covariances are shown. Datasets of eruption times of Beehive Geyser and Riverside Geyser in Yellowstone National Park, as well as several distributional examples, illustrate the findings. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
00031305
Volume :
77
Issue :
3
Database :
Complementary Index
Journal :
American Statistician
Publication Type :
Academic Journal
Accession number :
169847628
Full Text :
https://doi.org/10.1080/00031305.2022.2151510