## Florescu, Ionut

# Probability and Stochastic Processes

**A comprehensive and accessible presentation of probability and stochastic processes with emphasis on key theoretical concepts and real-world applications**

With a sophisticated approach, *Probability and Stochastic Processes *successfully balances theory and applications in a pedagogical and accessible format. The book’s primary focus is on key theoretical notions in probability to provide a foundation for understanding concepts and examples related to stochastic processes.

Organized into two main sections, the book begins by developing probability theory with topical coverage on probability measure; random variables; integration theory; product spaces, conditional distribution, and conditional expectations; and limit theorems. The second part explores stochastic processes and related concepts including the Poisson process, renewal processes, Markov chains, semi-Markov processes, martingales, and Brownian motion. Featuring a logical combination of traditional and complex theories as well as practices, *Probability and Stochastic Processes *also includes:

- Multiple examples from disciplines such as business, mathematical finance, and engineering
- Chapter-by-chapter exercises and examples to allow readers to test their comprehension of the presented material
- A rigorous treatment of all probability and stochastic processes concepts

An appropriate textbook for probability and stochastic processes courses at the upper-undergraduate and graduate level in mathematics, business, and electrical engineering,

*Probability and Stochastic Processes*is also an ideal reference for researchers and practitioners in the fields of mathematics, engineering, and finance.

**Keywords:** Probability & Mathematical Statistics, probability, applied probability, stochastic processes, probability measure, numerical methods, integration theory, limit theorems, Markov chains

- Author(s)
- Florescu, Ionut
- Publisher
- John Wiley and Sons, Inc.
- Publication year
- 2015
- Language
- en
- Edition
- 1
- Page amount
- 576 pages
- Category
- Natural Sciences
- Format
- Ebook
- eISBN (ePUB)
- 9781118593134
- Printed ISBN
- 9780470624555