Stochastic Modeling

A coherent introduction to the techniques for modeling dynamic stochastic systems this volume also offers a guide to the mathematical numerical and simulation tools of systems analysis. Suitable for advanced undergraduates and graduate-level industrial engineers and management science majors it proposes modeling systems in terms of their simulation regardless of whether simulation is employed for analysis. <br>Beginning with a view of the conditions that permit a mathematical-numerical analysis the text explores Poisson and renewal processes Markov chains in discrete and continuous time semi-Markov processes and queuing processes. Each chapter opens with an illustrative case study and comprehensive presentations include formulation of models determination of parameters analysis and interpretation of results. Programming language-independent algorithms appear for all simulation and numerical procedures.