## Applied Probability and Stochastic ProcessesIn this book, Feldman and Valdez-Flores present 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 for 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. Unique features of the book include a self-contained chapter on simulation (Chapter 3) and early introduction of Markov chains. |

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### Other editions - View all

Applied Probability and Stochastic Processes Richard M. Feldman,Ciriaco Valdez-Flores Limited preview - 2009 |

Applied Probability and Stochastic Processes Richard M. Feldman,Ciriaco Valdez-Flores No preview available - 2014 |

Applied Probability and Stochastic Processes Richard M. Feldman,Ciriaco Valdez-Flores No preview available - 2010 |

### Common terms and phrases

algorithm approximation arrival process assume average cost average number batch calculations called chapter column confidence interval Consider continuous random variable cumulative distribution function defined Definition denote determine diagram discounted cost discrete random variable distributed random entity equal Erlang distribution estimate example expected number exponentially distributed failure Figure Future Events list given graph hour illustrate independent initial interarrival inventory inverse irreducible set linear programming long-run average machine Markov chain Markov decision process Markov matrix Markov process matrix geometric mean arrival rate minimal repair minutes node normal distribution number of customers obtain operation optimum parameter phase phase-type distribution Poisson process Pr{X probability mass function problem queueing system random number recurrent replacement policy server simulation space square matrix standard deviation stationary policy steady-state probabilities step stochastic process system of equations Table toss variance vector week widgets yields zero