Fundamentals of Probability with Stochastic Processes, Third Edition teaches probability in a natural way through interesting and instructive examples and exercises that motivate the theory, definitions, theorems, and methodology. The author takes a mathematically rigorous approach while closely adhering to the historical development of probability. He includes more than 1500 routine and challenging exercises, historical remarks, and discussions of probability problems recently published in journals, such as Mathematics Magazine and American Mathematical Monthly.

New to the Third Edition

Reorganized material to reflect a more natural order of topics
278 new exercises and examples as well as better solutions to the problems
New introductory chapter on stochastic processes
More practical, nontrivial applications of probability and stochastic processes in finance, economics, and actuarial sciences, along with more genetics examples
New section on survival analysis and hazard functions
More explanations and clarifying comments in almost every section

This versatile text is designed for a one- or two-term probability course for majors in mathematics, physical sciences, engineering, statistics, actuarial science, business and finance, operations research, and computer science. It also accessible to students who have completed a basic calculus course.

About the Author

Saeed Ghahramani is the dean of the College of Arts and Sciences and a professor of mathematics at Western New England University, Springfield, Massachusetts, USA. His research interests include chance and probability, higher education administration, and Persian poetry, culture, and language. He earned his Ph.D from the University of California, Berkeley, USA.

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