Mr. Smith replaces the battery in his car as soon as it dies. Suppose the battery lifetimes are iid Erlang with parameters k = 3 and λ=1 (per year). Compute the long-run replacement rate if Mr. Smith replaces the battery upon failure.

Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.5: Iterative Methods For Solving Linear Systems
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Mr. Smith replaces the battery in his car as soon as it dies. Suppose the battery lifetimes are iid Erlang with parameters k = 3 and λ=1 (per year). Compute the long-run replacement rate if Mr. Smith replaces the battery upon failure.

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