By Ming Liao
Applied Stochastic Processes offers a concise, graduate-level remedy of the topic, emphasizing purposes and sensible computation. It additionally establishes the total mathematical idea in an available approach.
After reviewing easy likelihood, the textual content covers Poisson techniques, renewal methods, discrete- and continuous-time Markov chains, and Brownian movement. It additionally deals an creation to stochastic differential equations. whereas the most purposes defined are queues, the booklet additionally considers different examples, equivalent to the mathematical version of a unmarried inventory marketplace.
With routines in so much sections, this ebook offers a transparent, useful creation for starting graduate scholars. the cloth is gifted in an easy demeanour utilizing brief, motivating examples. moreover, the writer develops the mathematical thought with a powerful emphasis on likelihood intuition.
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Applied Stochastic Processes by Ming Liao