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Probability and Stochastic Modeling

ISBN: 9781439872062 | 1439872066
Edition: 1st
Format: Hardcover
Publisher: Chapman & Hall
Pub. Date: 8/25/2012

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With a focus on applications, this unique introductory book goes beyond the standard facts typically presented in probability texts. It includes a variety of stochastic models of real phenomena and methods of modeling, such as simulation, Markov chains, counting and compound processes, simple trees, queuing theory, reliability models, diffusion, and models of the financial market. It contains numerous examples from various fields, including economics, finance, insurance, computer science, and physics. The text also provides examples and exercises on numerical calculations using Excel.


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