Thanks for the suggestion. I should have thought to think of it as a Markov process.
I'm still not sure how to use this description to get at my desired result, however. Does anyone know of any results relating to the expected number of transition events for a given Markov chain? I'll look...
Dear all,
I wonder if anyone has come across this problem before and could point me to a relevant ref or tell me what terms I might search for:
I am interested in a continuous time process in which two alternating events (call them A and B) occur. Each event has an exponentially...