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Fundamentals of Stochastic Models (Hardcover)
Loot Price: R4,242
Discovery Miles 42 420
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Fundamentals of Stochastic Models (Hardcover)
Series: Operations Research Series
Expected to ship within 10 - 15 working days
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Stochastic modeling is a set of quantitative techniques for
analyzing practical systems with random factors. This area is
highly technical and mainly developed by mathematicians. Most
existing books are for those with extensive mathematical training;
this book minimizes that need and makes the topics easily
understandable. Fundamentals of Stochastic Models offers many
practical examples and applications and bridges the gap between
elementary stochastics process theory and advanced process theory.
It addresses both performance evaluation and optimization of
stochastic systems and covers different modern analysis techniques
such as matrix analytical methods and diffusion and fluid limit
methods. It goes on to explore the linkage between stochastic
models, machine learning, and artificial intelligence, and
discusses how to make use of intuitive approaches instead of
traditional theoretical approaches. The goal is to minimize the
mathematical background of readers that is required to understand
the topics covered in this book. Thus, the book is appropriate for
professionals and students in industrial engineering, business and
economics, computer science, and applied mathematics.
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