{"product_id":"phase-type-distributions-9781394329908","title":"Phase Type Distributions","description":"\u003cp\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. Phase Type Distribution starts from the Markov chain-based definition of phase type distributions and presents many interesting properties, which follow from the basic definition. As 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. Additionally, this book lists numerical examples that support the intuitive understanding of the analytical descriptions and software tools that handle phase type distributions.\u003c\/p\u003e","brand":"Gardners","offers":[{"title":"Default Title","offer_id":53939280871703,"sku":null,"price":16492.12,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0679\/6918\/8119\/files\/9781394329908.jpg?v=1784116704","url":"https:\/\/payment.letskitaboo.com\/products\/phase-type-distributions-9781394329908","provider":"Kitaboo One eStore","version":"1.0","type":"link"}