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Probability and Stochastic Modeling (Paperback)
Loot Price: R1,914
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Probability and Stochastic Modeling (Paperback)
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Probability and Stochastic Modeling not only covers all the topics
found in a traditional introductory probability course, but also
emphasizes stochastic modeling, including Markov chains,
birth-death processes, and reliability models. Unlike most
undergraduate-level probability texts, the book also focuses on
increasingly important areas, such as martingales, classification
of dependency structures, and risk evaluation. Numerous examples,
exercises, and models using real-world data demonstrate the
practical possibilities and restrictions of different approaches
and help students grasp general concepts and theoretical results.
The text is suitable for majors in mathematics and statistics as
well as majors in computer science, economics, finance, and
physics. The author offers two explicit options to teaching the
material, which is reflected in "routes" designated by special
"roadside" markers. The first route contains basic, self-contained
material for a one-semester course. The second provides a more
complete exposition for a two-semester course or self-study.
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