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Probability Theory 2
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assume Bernoulli process coins commodity components consider continuous random variable continuous-parameter convex function cost per unit defined demand denote destinations determine discrete random variable discrete-parameter distribution function equipment age event example expected number expression Figure gamma distribution given hazard function Hence holding cost initial conditions integral interval inventory level inventory system joint ordering policy Laplace transform Markov chain minimize minimum negative exponential distribution number of customers number of units Ö Ö o(dt objective function obtain occurs Operations Research optimum value order placed parameter particular Poisson distribution Poisson process problem procurement cost quantity queue queuing system relation reliability function respectively result sample space sequence server shortage cost solution solved standby steady-state stochastic process stock level theory tion total cost total expected cost total number transition probabilities yields zero