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.
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.
Source: Wikipedia "Residual time" · CC BY-SA 4.0
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