{"product_id":"phase-type-distributions","title":"Phase Type Distributions","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. \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.","brand":"ISTE Ltd and John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":54241041023320,"sku":"9781848219458","price":138.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9781848219458.jpg?v=1771368316","url":"https:\/\/agendabookshop.com\/products\/phase-type-distributions","provider":"Agenda Bookshop","version":"1.0","type":"link"}