Stochastic Processes & Applied Probability: A First Course in Modeling Random Systems Volume 1

Name: Stochastic Processes & Applied Probability: A First Course in Modeling Random Systems Volume 1
Brand: Independently Published
SKU: 9798199354479
Price: 2741.0 INR
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by Mir Hossain

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ISBN13: 9798199354479
Binding: Paperback
Subject: N/A
Publisher: Independently Published
Publisher Imprint: Independently Published
Publication Date: May 31, 2026
Pages: 150
Original Price: GBP 24.52
Language: English
Edition: N/A
Item Weight: 209 grams
BISAC Subject(s): Mathematical Analysis

About The Book

Master stochastic processes with clarity, rigor, and real-world insight.

Stochastic Processes & Applied Probability: A First Course in Modeling Random Systems - Volume 1 is a carefully structured introduction designed for upper-level undergraduate and early graduate students in mathematics, statistics, engineering, operations research, economics, and data science.

Unlike many traditional texts that are overly abstract or theorem-heavy, this book emphasizes understanding through worked examples, modeling intuition, and step-by-step problem solving.

This volume develops the mathematical foundation behind systems that evolve under uncertainty - from random walks and queueing systems to Markov chains and Brownian motion.

Inside this book you will learn:

- Probability refresher and conditioning
- Law of total probability and Bayes' theorem
- Conditional expectation and modeling intuition
- Random walks and gambler's ruin
- Generating functions and branching processes
- Discrete-time Markov chains
- State classification and long-run behavior
- Absorbing chains and first-passage analysis
- The Poisson process
- Continuous-time Markov chains
- Queueing theory and M/M systems
- Brownian motion and introductory diffusion models

This textbook includes:

Fully worked examples with clear step-by-step solutions
Progressive difficulty from fundamentals to applications
Diagnostic reviews and mastery checkpoints
Common-trap sections to prevent frequent mistakes
Retention reviews and cumulative practice
Complete problem solutions and answer summaries
Modeling-focused explanations that connect theory with applications

Whether you are studying stochastic processes for mathematics, engineering, data science, operations research, finance, or self-study, this book provides a practical and rigorous path into one of the most powerful areas of applied mathematics.

Learn the theory. Understand the models. Apply stochastic thinking with confidence.

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