3rd Edition

Stochastic Processes
An Introduction, Third Edition

  • Available for pre-order. Item will ship after September 30, 2020
ISBN 9780367657604
September 30, 2020 Forthcoming by Chapman and Hall/CRC
255 Pages

USD $54.95

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Book Description

Based on a well-established and popular course taught by the authors over many years, Stochastic Processes: An Introduction, Third Edition, discusses the modelling and analysis of random experiments, where processes evolve over time. The text begins with a review of relevant fundamental probability. It then covers gambling problems, random walks, and Markov chains. The authors go on to discuss random processes continuous in time, including Poisson, birth and death processes, and general population models, and present an extended discussion on the analysis of associated stationary processes in queues.

The book also explores reliability and other random processes, such as branching, martingales, and simple epidemics. A new chapter describing Brownian motion, where the outcomes are continuously observed over continuous time, is included. Further applications, worked examples and problems, and biographical details have been added to this edition. Much of the text has been reworked. The appendix contains key results in probability for reference.

This concise, updated book makes the material accessible, highlighting simple applications and examples. A solutions manual with fully worked answers of all end-of-chapter problems, and Mathematica® and R programs illustrating many processes discussed in the book, can be downloaded from crcpress.com.

Table of Contents

Some Background on Probability

Some Gambling Problems

Random Walks

Markov Chains

Poisson Processes

Birth and Death Processes


Reliability and Renewal

Branching and Other Random Processes

Brownian Motion: Wiener Process. Computer Simulations and Projects

Answers and Comments on End-of-Chapter Problems


References and Further Reading

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Peter W. Jones is a professor and Pro Vice Chancellor for Research and Enterprise at Keele University in Staffordshire, UK.

Peter Smith is a Professor Emeritus in the School of Computing and Mathematics at Keele University in Staffordshire, UK.