“Aclarityofstyleandaconcisenessoftreatmentwhichstudentswillfindmostwelcome.Thematerialisvaluableandwellorganized...anexcellentintroductiontoappliedprobability.“--JournaloftheAmericanStatisticalAssociation.Thisbookoffersaconciseintroductiontosomeofthestochasticprocessesthatfrequentlyariseinappliedprobability.Emphasisisonoptimizationmodelsandmethods,particularlyintheareaofdecisionprocesses.Afterreviewingsomebasicnotionsofprobabilitytheoryandstochasticprocesses,theauthorpresentsausefultreatmentofthePoissonprocess,includingcompoundandnonhomogeneousPoissonprocesses.SubsequentchaptersdealwithsuchtopicsasrenewaltheoryandMarkovchains;semi-Markov,Markovrenewal,andregenerativeprocesses;inventorytheory;andBrownianmotionandcontinuoustimeoptimizationmodels.Eachchapterisfollowedbyasectionofusefulproblemsthatillustrateandcomplementthetext.Thereisalsoashortlistofrelevantreferencesattheendofeverychapter.Studentswillfindthisalargelyself-containedtextthatrequireslittlepreviousknowledgeofthesubject.Itisespeciallysuitedforaone-yearcourseinappliedprobabilityattheadvancedundergraduateorbeginningpostgraduatelevel.1970edition.
APPLICATIONS OPTIMIZATION MODELS SEMI
