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SOLVED: Exercise 1: Simple birth-and-death process. Consider a population in which each individual gives birth after an exponential time of parameter > 0, independently and repeatedly. Furthermore, each individual dies after an exponential time of parameter p > 0, independently of the births and of the other individuals. Suppose that we model the number of individuals alive in the population as a continuous-time stochastic process (Xt, t > 0) by letting Xt be the number of individuals alive at t
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