Probability, Statistics, and Stochastic Processes

Probability, Statistics, and Stochastic Processes offers a comprehensive and balanced treatment of essential topics in probability theory, statistics, and stochastic processes. Peter Olofsson’s textbook builds on a rigorous, calculus-based framework while providing an intuitive approach that draws upon years of classroom experience. The text begins by establishing a solid foundation in probability theory through the axioms of probability, random variables, and joint distributions. Subsequent chapters delve into limit theorems, simulation techniques, and statistical inference, including an insightful exploration of Bayesian statistics. The discussion also extends to Markov chains in both discrete and continuous time. With over 400 examples and thoughtfully designed problems interspersed throughout, this book equips students in upper-level undergraduate courses to analyze, interpret, and apply theory to real-world scenarios in science and engineering.