Abstract:This paper treats with two modeling techniques: Nonhomogeneous Continuous-Time Markov Chains (NH-CTMC) and Systems Dynamics (SD). In general, each of these focuses on different types of problems. While the NH-CTMCare used in the modeling of stochastic processes, the SD is focused on modeling a system from functional relationships between its components. However, it is demonstrated that the concepts and tools of the SD can be effectively used in modeling of NH-CTMC by means of the building and simulating an Equ… Show more
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