The field of applied probability has changed profoundly in the past twenty years. The development of computational methods has greatly contributed to a better understanding of the theory. A First Course in Stochastic Modelsprovides a self-contained introduction to the theory and applications of stochastic models. Emphasis is placed on establishing the theoretical foundations of the subject, thereby providing a framework in which the applications can be understood. Without this solid basis in theory no applications can be solved.
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Provides an introduction to the use of stochastic models through an integrated presentation of theory, algorithms and applications.
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Incorporates recent developments in computational probability.
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Includes a wide range of examples that illustrate the models and make the methods of solution clear.
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Features an abundance of motivating exercises that help the student learn how to apply the theory.
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Accessible to anyone with a basic knowledge of probability.
