Residual time

In the theory of renewal processes, a part of the mathematical theory of probability, the residual time or the forward recurrence time is the time between any given time t {displaystyle t} and the next epoch of the renewal process under consideration. In the context of random walks, it is also known as overshoot. Another way to phrase residual time is 'how much more time is there to wait?'. In the theory of renewal processes, a part of the mathematical theory of probability, the residual time or the forward recurrence time is the time between any given time t {displaystyle t} and the next epoch of the renewal process under consideration. In the context of random walks, it is also known as overshoot. Another way to phrase residual time is 'how much more time is there to wait?'.