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Books > Science & Mathematics > Mathematics > Applied mathematics > Stochastics
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Elements Of Stochastic Modelling (2nd Edition) (Hardcover, 2nd edition)
Loot Price: R2,817
Discovery Miles 28 170
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Elements Of Stochastic Modelling (2nd Edition) (Hardcover, 2nd edition)
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Total price: R2,837
Discovery Miles: 28 370
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This is the expanded second edition of a successful textbook that
provides a broad introduction to important areas of stochastic
modelling. The original text was developed from lecture notes for a
one-semester course for third-year science and actuarial students
at the University of Melbourne. It reviewed the basics of
probability theory and then covered the following topics: Markov
chains, Markov decision processes, jump Markov processes, elements
of queueing theory, basic renewal theory, elements of time series
and simulation.The present edition adds new chapters on elements of
stochastic calculus and introductory mathematical finance that
logically complement the topics chosen for the first edition. This
makes the book suitable for a larger variety of university courses
presenting the fundamentals of modern stochastic modelling. Instead
of rigorous proofs we often give only sketches of the arguments,
with indications as to why a particular result holds and also how
it is related to other results, and illustrate them by examples.
Wherever possible, the book includes references to more specialised
texts on respective topics that contain both proofs and more
advanced material.
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