{"product_id":"9781848219458","title":"Phase Type Distributions : Theory and Application by Miklos Telek","description":"Phase 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.\u003cbr\u003eBinding: Hardback","brand":"Gardners","offers":[{"title":"Default Title","offer_id":56307948028277,"sku":"9781848219458","price":126.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9781848219458.jpg?v=1762805927","url":"https:\/\/backstory.london\/products\/9781848219458","provider":"Backstory","version":"1.0","type":"link"}