This book develops models for processes in which events can occur only at discrete time points, such as a Bernoulli process. This includes practical situations such as the ruin of a gambler and the extinction of a family surname. The book is divided into three sections:-Part I Branching Process, Part II Random Walks and Part III Markov Chains. The book contains both activities, which are included at various points in the text and exercises, which are placed at the end of some sections. Solutions to these may be found at the back of the book. Unfortunately three chapters of the book refer to the computer book and course software which is currently not available for sale.

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In 2002, World of Books Group was founded on an ethos to do good, protect the planet and support charities by enabling more goods to be reused. Since then, we've grown into to a global company pioneering the circular economy. Today, we drive the circular economy through three re-commerce brands: - Wob: Through Wob, we sell. We provide affordable, preloved books and media to customers all over the world. A book leaves our collection of over seven million titles and begins a new chapter every two seconds, enabling more goods to be reused. - Ziffit: Through Ziffit, we buy. We give people around the world the opportunity to contribute to the circular economy, earn money and protect the planet, by trading their unwanted books and media. - Shopiago: Through Shopiago, we help others. By sharing the technology that has grown World of Books Group into the business it is today, we?re helping charities increase revenue and reduce waste through re-commerce.

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