This book is a collection of selected papers presented at the International Conference
on Advances in Applied Probability and Stochastic Processes (ICAAP&SP@CMS
2019) held during 7–10 January 2019 at CMS College Kottayam, Kerala, India,
in honour of Prof. Dr. A. Krishnamoorthy, Emeritus Professor and Former Head
of Department of Mathematics, Cochin University of Science and Technology,
Kerala, India. It is the first conference in the series of conferences decided to
be conducted biannually, aiming to promote high-quality research in the field of
applied probability that would keep pace with the advancements in science and
technology. It focuses on applied probability techniques in modelling and analysis
of systems evolving in time. Stochastic modelling plays a key role in analysing
real-life situations such as queueing theory, reliability, inventory problems, biology,
medicine, and finance