Probability, Statistics, and Stochastic Processes

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Praise for the First Edition

". . . an excellent textbook . . . well organized and neatly written."
� �Mathematical Reviews

". . . amazingly interesting . . ."
� Technometrics

Thoroughly updated to showcase the interrelationships between probability, statistics, and stochastic processes, Probability, Statistics, and Stochastic Processes, Second Edition prepares readers to collect, analyze, and characterize data in their chosen fields.

Beginning with three chapters that develop probability theory and introduce the axioms of probability, random variables, and joint distributions, the book goes on to present limit theorems and simulation. The authors combine a rigorous, calculus-based development of theory with an intuitive approach that appeals to readers' sense of reason and logic. Including more than 400 examples that help illustrate concepts and theory, the Second Edition features new material on statistical inference and a wealth of newly added topics, including:

• Consistency of point estimators

• Large sample theory

• Bootstrap simulation

• Multiple hypothesis testing

• Fisher's exact test and Kolmogorov-Smirnov test

• Martingales, renewal processes, and Brownian motion

• One-way analysis of variance and the general linear model

Extensively class-tested to ensure an accessible presentation, Probability, Statistics, and Stochastic Processes, Second Edition is an excellent book for courses on probability and statistics at the upper-undergraduate level. The book is also an ideal resource for scientists and engineers in the fields of statistics, mathematics, industrial management, and engineering.

Probability, Statistics, and Stochastic Processes Review

I found Peter Olofsson's text to be a highly intelligent treatment of undergraduate probability. If you are looking for a text that is more than just a permutation of the material presented in Hogg and Craig, then look at this text. If, on the other hand you have a need for a text that is written in the disjointed picture book style of the textbook mills, then I recommend you do not choose this text. I personally find great pleasure in reading a text written by a single dedicated author with a clear mindset of how to treat probability. In reading this text you will clearly see Olofsson's thought process develop the continuity we should all expect from a math text.

The exercises in the text cover problems from the very basic to quite challenging. Most of the problems are more than just a rote drill, and actually allow one to learn on several levels. Again, this is the sign of a devoted author with a clear insight into the subject, as opposed to a textbook mill.

The prose is engaging to those who know how to read, not just to those who know how to read mathematics. The author makes reference to a variety of cultural icons that keeps the prose from becoming overly formalized, and this is refreshing in a math text.

As good as the exercises and writing are, the truly outstanding nature of this text is the topics covered. Olofsson has laid out a path of discovery that will allow the active and engaged reader to progress from no knowledge of probability up to being able to understand and use basic techniques of branching processes. I know of no other text that does this, let alone does it well.

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