Summary: An Introduction to Stochastic Modeling, Third Edition serves as the foundation for a one-semester course in stochastic processes for students familiar with elementary probability theory and calculus. It bridges the gap between basic probability know-how and an intermediate level course in stochastic processes. The objectives of the book are to introduce students to the standard concepts and methods of stochastic modeling, to illustrate the rich diversity of ap ...show moreplications of stochastic processes in the applied sciences, and to provide exercises in the application of simple stochastic analysis to realistic problems.
Realistic applications from a variety of disciplines integrated throughout the book
New chapter on Brownian motion and related processes
Additional sections on Martingales and Poisson process
Updated and more rigorous problems, including computer "challenges"
Revised end-of-chapter exercise sets ...show less