(Ebook) Introduction to Stochastic Processes by Tapas Kumar Chandra, Sreela Gangopadhyay ISBN 9788184872217, 9788184876741, 8184872216, 8184876742

(Ebook) Introduction to Stochastic Processes by Tapas Kumar Chandra, Sreela Gangopadhyay ISBN 9788184872217, 9788184876741, 8184872216, 8184876742

This book is a follow-up to our previous book ‘Fundamentals of ProbabilityTheory’ published in November, 2016 and it is meant for advanced undergradu-ate level and graduate level students with basic knowledge in probability; also,young researchers in other disciplines who want to brush-up their knowledge instochastic processes may find this book useful.Theory of Stochastic Processes is one of the major and most importantoffshoots of Probability Theory. It is a very rich subject with applications invarious branches of science, like Physics, Chemistry, Biology, Engineering andothers, and of social science, like Economics, Finance etc. It is an universal truththat nothing remains constant in this world, but changes with time; and fromthe modern view-point, these changes are never deterministic but influencedby numerous chance factors, and hence, random in nature, governed by someprobability distribution. In other words, they are all, in some form or other,stochastic processes. So for the scientific study of any phenomenon in this realworld, theory of stochastic processes offers the only recourse to rely on. Thus,a sound understanding of this theory is of paramount importance.In this book, we have tried to introduce the reader to the elegance of thistheory and to the immense possibilities it opens up. The reader is assumedto be familiar with basic theory of modern probability, for which our previousbook may prove handy.