<![CDATA[A stochastic process is a probability model that describes a series of events occurring randomly within the context of specific conditions or time intervals. Stochastic processes are divided into two types, namely discrete stochastic and continuous-time stochastic. One example of discrete-time stochastic is the renewal process, which is a computational process where the time intervals between arrivals are independent and have an identical distribution (IID) with any distribution. One specific type of renewal process is applied in the context of queues and involves rewards, also known as the renewal reward process. This article aims to demonstrate that one of the transactions at the Mixue company located in Jimbaran, Bali, near the Polytechnic of Bali (PNB), fulfills the characteristics of the renewal reward process.]]>
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