Publication

2019-10-04 - WSPC, New Jersey, USA

Language

English

Word Count

54,000 words, Guess

Page Count

216 pages

Physical Format

Paperback; Hardcover

Identifiers

  • ISBN-109811207909
  • ISBN-139789811207907
  • Library of Congress Control Number2019044552
  • OCLC Control Number1107856889
  • Better World Books9789811207907
and 1 more

Classifications

  • DDC519.2/3
  • LCCQA274.A529 R67 2020

Description

This textbook introduces the theory of stochastic processes, that is, randomness which proceeds in time. Using concrete examples like repeated gambling and jumping frogs, it presents fundamental mathematical results through simple, clear, logical theorems and examples. It covers in detail such essential material as Markov chain recurrence criteria, the Markov chain convergence theorem, and optional stopping theorems for martingales. The final chapter provides a brief introduction to Brownian motion, Markov processes in continuous time and space, Poisson processes, and renewal theory. Interspersed throughout are applications to such topics as gambler's ruin probabilities, random walks on graphs, sequence waiting times, branching processes, stock option pricing, and Markov Chain Monte Carlo (MCMC) algorithms.

Subjects

Other Editions

  • A First Look At Stochastic ProcessesPaperback; HardcoverWSPC2019-10-04

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