Birth–death process

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What Wikipedia says

The birth–death process (or birth-and-death process) is a special case of continuous-time Markov process where the state transitions are of only two types: "births", which increase the state variable by one and "deaths", which decrease the state by one. It was introduced by William Feller.

Excerpt from the Wikipedia article “Birth–death process”, under the CC BY-SA 4.0 license. Read the article on Wikipedia