On a renewal process average (Q678384)
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scientific article; zbMATH DE number 1001253
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | On a renewal process average |
scientific article; zbMATH DE number 1001253 |
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On a renewal process average (English)
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17 April 1997
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A known formula [\textit{W. S. Jewell}, ibid. 11, 293-295 (1981; Zbl 0458.60080)] for the expectation of a renewal process mean is generalized to the case of the fixed time being replaced by a nonnegative random variable \(T\). The links of this representation to the insurance mathematics, in particular to the insurance premium \(H(X)\), are established and a renewal theoretic interpretation of \(H(X)\) is proposed.
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renewal process
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random time
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premium calculation principle
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