STOCHASTIC PROCESSES AN INTRODUCTION 3ED (PB 2018) Paperback

Stochastic Processes: An Introduction, Third Edition is based on a well-established course taught by the authors for many years, focusing on the modeling and analysis of random experiments where processes change over time. The book begins with a review of essential probability concepts and then moves on to topics such as gambling problems, random walks, and Markov chains. It further explores continuous-time random processes like Poisson processes, birth and death processes, and general population models, along with an in-depth analysis of stationary processes in queues. The text also covers reliability and other random processes, including branching processes, martingales, and simple epidemics. A new chapter on Brownian motion, which involves observing continuous outcomes over time, is introduced in this edition. Additionally, more applications, worked examples, problems, and biographical details are included. The content has been revised extensively, and the appendix provides essential probability results for reference.