Introduction to Probability and Stochastic Processes with Applications

Nonfiction, Science & Nature, Mathematics, Probability, Business & Finance, Economics, Econometrics, Statistics
Cover of the book Introduction to Probability and Stochastic Processes with Applications by Liliana Blanco Castañeda, Viswanathan Arunachalam, Selvamuthu Dharmaraja, Wiley
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Author: Liliana Blanco Castañeda, Viswanathan Arunachalam, Selvamuthu Dharmaraja ISBN: 9781118344965
Publisher: Wiley Publication: August 21, 2014
Imprint: Wiley Language: English
Author: Liliana Blanco Castañeda, Viswanathan Arunachalam, Selvamuthu Dharmaraja
ISBN: 9781118344965
Publisher: Wiley
Publication: August 21, 2014
Imprint: Wiley
Language: English

An easily accessible, real-world approach to probability and stochastic processes

Introduction to Probability and Stochastic Processes with Applications presents a clear, easy-to-understand treatment of probability and stochastic processes, providing readers with a solid foundation they can build upon throughout their careers. With an emphasis on applications in engineering, applied sciences, business and finance, statistics, mathematics, and operations research, the book features numerous real-world examples that illustrate how random phenomena occur in nature and how to use probabilistic techniques to accurately model these phenomena.

The authors discuss a broad range of topics, from the basic concepts of probability to advanced topics for further study, including Itô integrals, martingales, and sigma algebras. Additional topical coverage includes:

  • Distributions of discrete and continuous random variables frequently used in applications
  • Random vectors, conditional probability, expectation, and multivariate normal distributions
  • The laws of large numbers, limit theorems, and convergence of sequences of random variables
  • Stochastic processes and related applications, particularly in queueing systems
  • Financial mathematics, including pricing methods such as risk-neutral valuation and the Black-Scholes formula

Extensive appendices containing a review of the requisite mathematics and tables of standard distributions for use in applications are provided, and plentiful exercises, problems, and solutions are found throughout. Also, a related website features additional exercises with solutions and supplementary material for classroom use. Introduction to Probability and Stochastic Processes with Applications is an ideal book for probability courses at the upper-undergraduate level. The book is also a valuable reference for researchers and practitioners in the fields of engineering, operations research, and computer science who conduct data analysis to make decisions in their everyday work.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

An easily accessible, real-world approach to probability and stochastic processes

Introduction to Probability and Stochastic Processes with Applications presents a clear, easy-to-understand treatment of probability and stochastic processes, providing readers with a solid foundation they can build upon throughout their careers. With an emphasis on applications in engineering, applied sciences, business and finance, statistics, mathematics, and operations research, the book features numerous real-world examples that illustrate how random phenomena occur in nature and how to use probabilistic techniques to accurately model these phenomena.

The authors discuss a broad range of topics, from the basic concepts of probability to advanced topics for further study, including Itô integrals, martingales, and sigma algebras. Additional topical coverage includes:

Extensive appendices containing a review of the requisite mathematics and tables of standard distributions for use in applications are provided, and plentiful exercises, problems, and solutions are found throughout. Also, a related website features additional exercises with solutions and supplementary material for classroom use. Introduction to Probability and Stochastic Processes with Applications is an ideal book for probability courses at the upper-undergraduate level. The book is also a valuable reference for researchers and practitioners in the fields of engineering, operations research, and computer science who conduct data analysis to make decisions in their everyday work.

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