Titlebook: Applied Probability and Stochastic Processes; Richard M. Feldman,Ciriaco Valdez-Flores Book 2010Latest edition Springer-Verlag Berlin Heid

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The Options for Environmental Managementareas for which randomness plays an important role. The previous chapters have focused on particular techniques with some applications being emphasized through examples and the homework problems. We now change tactics and present two chapters dealing with specific problem domains: the first will be

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The Economics of the Countrysidec that allows for a Markov model is a probability law in which the future behavior of the system is independent of the past behavior given the present condition of the system. When this Markov property is present, the dynamics of the process can be described by a matrix containing the one-step trans

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The Options for Environmental Managementh the use of queues. However, a major drawback to the application of the queueing theory discussed so far is its dependence on the Poisson and exponential assumptions regarding the probability laws for the arrival and service processes. One of the properties of the exponential distribution is that i

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Event-Driven Simulation and Output Analyses, powerful because it can be used to model a wide diversity of situations, and it may be dangerous because its relative simplicity may lead to misuse and misinterpretation of results. However, with good training in the use of simulation and careful statistical analysis, discrete simulation can be used for great benefit.

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https://doi.org/10.1007/978-3-642-05158-6Inventory Theory; Markov Chains; Markov Decicision Processes; Markov Processes; Markov chain; Markov deci