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You're reading from  Practical Machine Learning Cookbook

Product typeBook
Published inApr 2017
Reading LevelIntermediate
PublisherPackt
ISBN-139781785280511
Edition1st Edition
Languages
Python
Tools
Apache Spark
Concepts
Machine Learning
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Author (1)
Atul Tripathi
Atul Tripathi
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Atul Tripathi

Atul Tripathi has spent more than 11 years in the fields of machine learning and quantitative finance. He has a total of 14 years of experience in software development and research. He has worked on advanced machine learning techniques, such as neural networks and Markov models. While working on these techniques, he has solved problems related to image processing, telecommunications, human speech recognition, and natural language processing. He has also developed tools for text mining using neural networks. In the field of quantitative finance, he has developed models for Value at Risk, Extreme Value Theorem, Option Pricing, and Energy Derivatives using Monte Carlo simulation techniques.
Read more about Atul Tripathi

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Continuous Markov chains - vehicle service at a gas station

A gas station has a single pump. There is no space for vehicles to wait. If a vehicle arrives at the pump and there is no place the vehicle leaves without filling at the pump. Vehicles arrive at the gas station following a Poisson process with a rate of 3/20 vehicles per minute. Of the vehicles arriving at the pump, 75% are cars and 25% are motorcycles. The refueling time can be modeled with an exponential random variable with a mean of eight minutes for cars and three minutes for motorcycles.

Getting ready

In order to perform continuous Markov chains for vehicle service at a gas station we shall be simulating data.

How to do it...

Let's get into the details.

Step 1 - preparing the dataset

Load the following packages:

    > install.packages("simmer")
    > install.packages("ggplot2")
    > library(simmer)
    > library(ggplot2)

Note

Version info: Code for this page was tested in R version 3.2.2 (2015-08-14)

Initializing the...

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Practical Machine Learning Cookbook
Published in: Apr 2017Publisher: PacktISBN-13: 9781785280511
© 2017 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Atul Tripathi

Atul Tripathi has spent more than 11 years in the fields of machine learning and quantitative finance. He has a total of 14 years of experience in software development and research. He has worked on advanced machine learning techniques, such as neural networks and Markov models. While working on these techniques, he has solved problems related to image processing, telecommunications, human speech recognition, and natural language processing. He has also developed tools for text mining using neural networks. In the field of quantitative finance, he has developed models for Value at Risk, Extreme Value Theorem, Option Pricing, and Energy Derivatives using Monte Carlo simulation techniques.
Read more about Atul Tripathi

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