OBSERVING THE RENEWAL PERIOD IN AN ORGANIZATION THROUGH MATHEMATICAL MODEL

Abstract

Renewal process is observed where an organization is subject to a sequence of K different shocks, and every organization needs to know the renewal time, before the organization reaches the maximum threshold level. The renewal function is derived using the Laplace transform of the Exponentiated Gamma Distribution, and its expected time is obtained explicitly with mathematical figures. This model will be suitable and alternate for analyzing the renewal time in an organization.