Generalized renewal process
= Generalized renewal process
{wiki=Generalized_renewal_process}
A Generalized Renewal Process (GRP) is a stochastic model used to describe the times between events in a system where events occur continuously over time. This concept generalizes the classical renewal process, which is characterized by the assumption that inter-arrival times (the times between consecutive events) are independent and identically distributed (i.i.d.) random variables.