I'm reading on Poisson and Renewal processes and I encountered the term limiting fraction of time. Although it was somewhat defined I couldn't really grasp the meaning of it.
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Here is an example of what I mean: The weather in a certain locale consists of alternating wet and dry spells. Suppose that the number of days in each rainy spell is a Poisson distribution with mean 2, and that a dry spell follows a geometric distribution with mean 7. Assume that the successive durations of rainy and dry spells are independent. What is the long-run fraction of time that it rains?