Probability and Stochastic Modeling: The Mathematics of Insurance, Second Editon - Softcover

Rotar, Vladimir I.

Softcover

ISBN 10: 0367380943 ISBN 13: 9780367380946

Publisher: Chapman and Hall/CRC, 2019

Synopsis

Probability and Stochastic Modeling not only covers all the topics found in a traditional introductory probability course, but also emphasizes stochastic modeling, including Markov chains, birth-death processes, and reliability models. Unlike most undergraduate-level probability texts, the book also focuses on increasingly important areas, such as martingales, classification of dependency structures, and risk evaluation. Numerous examples, exercises, and models using real-world data demonstrate the practical possibilities and restrictions of different approaches and help students grasp general concepts and theoretical results. The text is suitable for majors in mathematics and statistics as well as majors in computer science, economics, finance, and physics. The author offers two explicit options to teaching the material, which is reflected in "routes" designated by special "roadside" markers. The first route contains basic, self-contained material for a one-semester course. The second provides a more complete exposition for a two-semester course or self-study.

About this title

About the Author

Vladimir I. Rotar is a professor in the Department of Mathematics and Statistics at San Diego State University. Dr. Rotar has authored four books and more than 100 scientific papers on probability theory and its applications in leading mathematical journals.

Edition details

• Publisher: Chapman and Hall/CRC
• Publication date: 2019
• Language: English
• ISBN 10: 0367380943
• ISBN 13: 9780367380946
• Binding: Paperback
• Edition number: 1
• Number of pages: 508