Abstract: Wang and Hart [1] introduced a new spare parts prediction model based on the Erlang C queueing model under general conditions including intermittent uses, that overcomes the drawback in the ...

The subjective theory of value defines how an object's worth fluctuates according to personal views and context. Understand ...

Discover how the Dutch Book Theorem reveals profit opportunities in betting and finance when probabilities are misjudged.

Abstract: This study investigates a multi-server queueing-inventory system in a random environment. The system has an unlimited waiting space and an inventory ...