With an emphasis on models and techniques, this textbook
introduces many of the fundamental concepts of stochastic modeling
that are now a vital component of almost every scientific
investigation. In particular, emphasis is placed onlaying the
foundationfor solvingproblemsin reliability, insurance, finance,
and credit risk.
The material has been carefully selected to cover the basic
concepts and techniques on each topic, making this an ideal
introductory gateway to more advanced learning. With exercises and
solutions to selected problems accompanying each chapter, this
textbook is for a wide audience including advanced undergraduate
and beginning-level graduate students, researchers, and
practitioners in mathematics, statistics, engineering, and
economics."
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