Modeling and Analysis of Stochastic Systems, Second Edition (Chapman & Hall/CRC Texts in Statistical Science)

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9781439808757: Modeling and Analysis of Stochastic Systems, Second Edition (Chapman & Hall/CRC Texts in Statistical Science)
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Modeling And Analysis Of Stochastic Systems, 2Nd Edn by Kulkarni,V.G., 9781439808757, T&F India, 2010, Hardcover

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This book provides insight on the mathematical methods for modelling and understanding real-world processes. ... for the teacher, this book provides an abundant resource of examples for class exercises and student homework. The modelling examples include many that would be of interest for advanced undergraduate courses on inventory management, reliability, operations management and queuing networks. ... This is a book for the few who would like to know almost everything about stochastic processes and for the many who need to know something, and would like to have their eyes opened to the many models and analytical results available on stochastic processes. -J. Smart, Journal of the Operational Research Society, Vol. 62, 2011 This book is written by a well-experienced scientist and teacher. The material is carefully chosen and presented in a systematic way, starting with the basics and reaching more advanced topics. ... It is very useful to see a large number of examples worked out in detail. Thus, besides university courses, the book can be successfully used for self-education. ... This book is a good example of how to write on sophisticated topics about stochastic processes without involving the heavy measure theoretic machinery. Another advantage of the book is the application-oriented approach that is followed by the author. ... This book can be strongly recommended for introductory, intermediate or advanced university courses on stochastic processes. Both students and their teachers may benefit considerably from it. -Journal of the Royal Statistical Society: Series A, July 2011 ... an accessible, well paced, and very nicely presented book. The publishers are also to be commended on its nice production: it is the sort of book which is a pleasure to read. In all, it is an excellent textbook for use in introductory courses on stochastic processes. -International Statistical Review (2010), 78, 3 This book may be recommended for all readers who want to understand, build and analyse stochastic models and relevant problems. -Zentralblatt MATH 1191 Praise for the First Edition: ... a beautiful introductory textbook on stochastic processes ... Plenty of applications, examples, and exercises bring the reader to the intuitive understanding of the subject. -Zentralblatt MATH Well-chosen examples and interesting exercises make this text a good choice for a first course in stochastic processes for a broad class of students. -Journal of the American Statistical Association

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Based on the author's more than 25 years of teaching experience, Modeling and Analysis of Stochastic Systems, Second Edition covers the most important classes of stochastic processes used in the modeling of diverse systems, from supply chains and inventory systems to genetics and biological systems. For each class of stochastic process, the text includes its definition, characterization, applications, transient and limiting behavior, first passage times, and cost/reward models. Along with reorganizing the material, this edition revises and adds new exercises and examples. New to the second edition: a new chapter on diffusion processes that gives an accessible and non-measure-theoretic treatment with applications to finance; a more streamlined, application-oriented approach to renewal, regenerative, and Markov regenerative processes; and, two appendices that collect relevant results from analysis and differential and difference equations. Rather than offer special tricks that work in specific problems, this book provides thorough coverage of general tools that enable the solution and analysis of stochastic models. After mastering the material in the text, students will be well-equipped to build and analyze useful stochastic models for various situations. A collection of MATLAB[registered]-based programs can be downloaded from the author's website and a solutions manual is available for qualifying instructors.

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