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Engineering - Production & Process Engineering | Applied Probability and Stochastic Processes

Applied Probability and Stochastic Processes

Feldman, Richard M., Valdez-Flores, Ciriaco

Originally published by PWS Publishing/Thomson Publishing, USA, 1995

2nd ed. 2010, XV, 397 p.

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  • Gives the reader an intuitive understanding of probabilistic reasoning as well as an understanding of mathematical concepts
  • Presents stochastic processes in an elementary but mathematically precise manner
  • Includes numerous examples and exercises
  • Features a new chapter on Poisson Processes and an introductory chapter on statistics that includes a section on risk assessment
  • Expands chapter on queues into two chapters: one for simple queuing processes and one for queuing networks

This book presents applied probability and stochastic processes in an elementary but mathematically precise manner, with numerous examples and exercises to illustrate the range of engineering and science applications of the concepts. The book is designed to give the reader an intuitive understanding of probabilistic reasoning, in addition to an understanding of mathematical concepts and principles. The initial chapters present a summary of probability and statistics and then Poisson processes, Markov chains, Markov processes and queuing processes are introduced. Advanced topics include simulation, inventory theory, replacement theory, Markov decision theory, and the use of matrix geometric procedures in the analysis of queues.

Included in the second edition are appendices at the end of several chapters giving suggestions for the use of Excel in solving the problems of the chapter. Also new in this edition are an introductory chapter on statistics and a chapter on Poisson processes that includes some techniques used in risk assessment. The old chapter on queues has been expanded and broken into two new chapters: one for simple queuing processes and one for queuing networks. Support is provided through the web site http://apsp.tamu.edu where students will have the answers to odd numbered problems and instructors will have access to full solutions and Excel files for homework.

Content Level » Research

Keywords » Inventory Theory - Markov Chains - Markov Decicision Processes - Markov Processes - Markov chain - Markov decision process - Markov process - Monte Carlo Simulation - Poisson Processes - Poisson process - Queueing Networks - Queueing Processes - Replacement Theory - stochastic process

Related subjects » Complexity - Production & Logistics - Production & Process Engineering - Theoretical Computer Science

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