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By Ming Liao

Applied Stochastic Processes offers a concise, graduate-level remedy of the topic, emphasizing purposes and functional computation. It additionally establishes the entire mathematical concept in an obtainable approach.

After reviewing simple likelihood, the textual content covers Poisson methods, renewal techniques, discrete- and continuous-time Markov chains, and Brownian movement. It additionally deals an advent to stochastic differential equations. whereas the most purposes defined are queues, the booklet additionally considers different examples, comparable to the mathematical version of a unmarried inventory marketplace.

With routines in such a lot sections, this publication presents a transparent, useful creation for starting graduate scholars. the cloth is gifted in a simple demeanour utilizing brief, motivating examples. moreover, the writer develops the mathematical idea with a robust emphasis on likelihood intuition.

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Applied Stochastic Processes by Ming Liao

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