Probability and Stochastic Processes (ePub)

A comprehensive and accessible presentation of probability
and stochastic processes with emphasis on key theoretical concepts
and real-world applications

With a sophisticated approach, Probability and Stochastic
Processes successfully balances theory and applications in a
pedagogical and accessible format. The book's primary focus
is on key theoretical notions in probability to provide a
foundation for understanding concepts and examples related to
stochastic processes.

Organized into two main sections, the book begins by developing
probability theory with topical coverage on probability measure;
random variables; integration theory; product spaces, conditional
distribution, and conditional expectations; and limit theorems. The
second part explores stochastic processes and related concepts
including the Poisson process, renewal processes, Markov chains,
semi-Markov processes, martingales, and Brownian motion. Featuring
a logical combination of traditional and complex theories as well
as practices, Probability and Stochastic Processes also
includes:

* Multiple examples from disciplines such as business,
mathematical finance, and engineering

* Chapter-by-chapter exercises and examples to allow readers to
test their comprehension of the presented material

* A rigorous treatment of all probability and stochastic
processes concepts

An appropriate textbook for probability and stochastic processes
courses at the upper-undergraduate and graduate level in
mathematics, business, and electrical engineering, Probability
and Stochastic Processes is also an ideal reference for
researchers and practitioners in the fields of mathematics,
engineering, and finance.