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Applied Stochastic Processes uses a distinctly applied framework to present the most important topics in the field of stochastic processes.Key features:Presents carefully chosen topics such as Gaussian and Markovian processes, Markov chains, Poisson processes, Brownian motion, and queueing theoryExamines in detail special diffusion processes, with implications for finance, various generalizations of Poisson processes, and renewal processesServes graduate students in a variety of disciplines such as applied mathematics, operations research, engineering, finance, and business administrationContains numerous examples and approximately 350 advanced problems, reinforcing both concepts and applicationsIncludes entertaining minibiographies of mathematicians, giving an enriching historical contextCovers basic results in probabilityTwo appendices with statistical tables and solutions to the evennumbered problems are included at the end. This textbook is for graduate students in applied mathematics, operations research, and engineering. Pure mathematics students interested in the applications of probability and stochastic processes and students in business administration will also find this book useful.
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