This practical and accessible text enables readers from operations research, business, engineering, public policy and computer science to analyze stochastic systems. It presents the major cases of stochastic processes – discrete and continuous-time Markov chains, renewal processes, regenerative processes, and Markov regenerative processes. This revised second edition has been updated with many improvements and corrections, the latest references, additional topics - including designing large scale systems and fluid models - and additional examples and exercises.
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