Renewal theoryRenewal theory is the branch of probability theory that generalizes the Poisson process for arbitrary holding times. Instead of exponentially distributed holding times, a renewal process may have any independent and identically distributed (IID) holding times that have finite mean. A renewal-reward process additionally has a random sequence of rewards incurred at each holding time, which are IID but need not be independent of the holding times. A renewal process has asymptotic properties analogous to the strong law of large numbers and central limit theorem.
Urban renewalUrban renewal (also called urban regeneration in the United Kingdom and urban redevelopment in the United States) is a program of land redevelopment often used to address urban decay in cities. Urban renewal involves the clearing out of blighted areas in inner cities to clear out slums and create opportunities for higher class housing, businesses, and other developments. A primary purpose of urban renewal is to restore economic viability to a given area by attracting external private and public investment and by encouraging business start-ups and survival.
InfrastructureInfrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, tunnels, water supply, sewers, electrical grids, and telecommunications (including Internet connectivity and broadband access).
Railway trackA railway track (British English and UIC terminology) or railroad track (American English), also known as a train track or permanent way, is the structure on a railway or railroad consisting of the , fasteners, railroad ties (sleepers, British English) and ballast (or slab track), plus the underlying subgrade. It enables trains to move by providing a dependable surface for their wheels to roll upon. Early tracks were constructed with wooden or cast iron rails, and wooden or stone sleepers; since the 1870s, rails have almost universally been made from steel.
