Continuous-Time Markov Chains

In. this. chapter,. we. consider. continuous-time. Markov. chains,. the. class. of. discrete-valued,.continuous-time.stochastic.processes.that.possess.the.Markov.property..Continuous-time.Markov.chains.are.used.in.a.wide.variety.of. applications,.including.machine.repair.and.queueing.problems.