This revised and updated text introduces readers to the application probability theory to phenomena in fields such as engineering, computer science, management and actuarial science, the physical and social sciences, and operations research. It contains exercises and worked examples.
The first approach is employed in this text. The book begins by introducing basic concepts of probability theory, such as the random variable, conditional probability, and conditional expectation.
With the addition of several new sections relating to actuaries, this text is highly recommended by the Society of Actuaries.
Introduction to Probability Models, Student Solutions Manual (e-only)
This important text: Includes classroom-tested problems and solutions to probability exercises Highlights real-world exercises designed to make clear the concepts presented Uses Mathematica software to illustrate the text’s computer ...
With the addition of several new sections relating to actuaries, this text is highly recommended by the Society of Actuaries.
This strategy was first articulated by Kelly (1956). Breiman (1961) showed that if you want to maximise the long-term growth rate, or to minimise the mean time to reach a desired level of capital, you cannot improve on betting a ...
Concise advanced-level introduction to stochastic processes that arise in applied probability. Poisson process, renewal theory, Markov chains, Brownian motion, much more. Problems. References. Bibliography. 1970 edition.
This is the currently used textbook for an introductory probability course at the Massachusetts Institute of Technology, attended by a large number of undergraduate and graduate students, and for a leading online class on the subject.
This important text: Includes classroom-tested problems and solutions to probability exercises Highlights real-world exercises designed to make clear the concepts presented Uses Mathematica software to illustrate the text’s computer ...
A key feature of this book is its many interesting examples and exercises that have been chosen to illuminate the techniques presented.