Uses a distinctly applied framework to present the most important topics in the field of stochastic processes. This book presents carefully chosen topics such a... » 

Uses a distinctly applied framework to present the most important topics in the field of stochastic processes. This book presents carefully chosen topics such as Gaussian and Markovian processes, Markov chains, Poisson processes, Brownian motion, and queueing theory. It examines in detail special diffusion processes, with implications for finance, various generalizations of Poisson processes, and renewal processes. «