Modeling Random Processes for Engineers and Managers

By reducing mathematical detail and focusing on real-world applications, this book provides engineers with an easy-to-understand overview of stochastic modeling. An entire chapter is included on how to set up the problem, and then another complete chapter presents examples of applications before doing any math. A previously unpublished computational method for solving equations related to Markov processes is added. The book shows how to add costs or revenues to the basic probability structures without much additional effort. In addition, numerous examples are included that show how the theory can be used. Engineers will also find explanations on how to formulate word problems into the models that the math worked on.

Dr. James J Solberg is the Ransburg Professor of Manufacturing and Industrial Engineering and Director of the Purdue University Center for Collaborative Manufacturing (National Science Foundation Engineering Research Center). Dr. Solberg is the U.S. Regional Coordinator for the International Joint Research Committee on Metamorphic Material Handling Systems is a member of the Executive Committee of the Material Handling Engineering Division of ASME, the chair of the Technical Committee on Material Transport Systems. He also currently serves on the Editorial Board, International Journal of Production Economics. His research interests include manufacturing systems, stochastic models, and queuing networks.