This practical and accessible text enables students in engineering, business, operations research, public policy and computer science to analyze stochastic systems. Emphasizing the modeling of real-life situations with stochastic elements and analyzing the resulting stochastic model, it presents the major cases of useful stochastic processes-discrete and continuous time Markov chains, renewal processes, regenerative processes, and Markov regenerative processes. The author provides user-friendly, yet rigorous coverage. He demonstrates both numerical and analytical solution methods in detail and includes numerous worked examples and exercises.
Author Biography
Vidyadhar G. Kulkarni is a Norman Johnson Professor in the Department of Statistics and Operations Research at the University of North Carolina at Chapel Hill.
