STOCHASTIC PROCESSES and APPLIED PROBABILITY

Hossain, Mir

/ ISBN 13: 9798199634793

Verlag: Independently published, 2026

New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers L2-9798199634793

Inhaltsangabe:

Master stochastic processes beyond the basics—with clarity, rigor, and real understanding.

Stochastic Processes & Applied Probability: Volume 2 is a carefully structured second course designed for college and university students, engineers, quantitative analysts, and self-learners ready to move beyond introductory probability and Markov chains into the deeper mathematics of stochastic modeling.

Building directly on foundational probability and stochastic-process concepts, this volume develops the theory and applications of renewal processes, martingales, Brownian motion, stochastic calculus, stochastic differential equations, diffusion models, filtering, and simulation in a clear and accessible style.

Unlike many advanced probability texts that assume heavy mathematical maturity and skip intermediate reasoning, this book emphasizes step-by-step learning, intuition, and mastery through worked examples while maintaining mathematical rigor.

Inside this volume, you will learn:

• Renewal theory and long-run stochastic behavior
• Renewal functions and the elementary renewal theorem
• Age, residual life, and the inspection paradox
• Martingales and conditional expectation as working tools
• Filtrations, stopping times, and optional stopping
• Martingale convergence and inequalities
• Brownian motion and sample-path behavior
• The Itô integral and stochastic integration
• Itô's formula and stochastic calculus
• Stochastic differential equations (SDEs)
• Diffusions and the Fokker–Planck equation
• Hidden Markov models and filtering methods
• Stochastic simulation and computational probability

This book features:

Clear explanations with minimal unnecessary abstraction
Fully worked examples throughout
Diagnostic reviews and prerequisite checks
Common-trap and mistake-prevention sections
Practice, Apply, and Challenge problem sets
Step-by-step solutions
Formula summaries and reference material
Self-study and classroom-friendly organization

Whether you are studying probability, applied mathematics, statistics, quantitative finance, machine learning, operations research, engineering, or stochastic modeling, this book provides a rigorous yet approachable pathway into modern stochastic processes and applied probability.

Volume 2 continues the journey from foundational stochastic models to the powerful tools used in contemporary science, engineering, finance, and data-driven systems.

Bibliografische Details

Titel: STOCHASTIC PROCESSES and APPLIED PROBABILITY
Verlag: Independently published
Erscheinungsdatum: 2026
Einband: PAP
Zustand: New