This text, the second volume of Wayne Winston's successful OPERATIONS RESEARCH: APPLICATIONS AND ALGORITHMS, Fourth Edition, covers probability models with recent contributions from financial engineering, computational simulation and manufacturing. The specific attention to probability models with the addition of recent practical breakthroughs makes this the first text to introduce these ideas together at an accessible level. Excellent problem sets abound. The text provides a balanced approach by developing the underlying theory while illustrating them with interesting examples. All of the necessary mathematical requirements are reviewed in Chapter 1.Winston, Wayne L. is the author of 'Introduction to Probability Models Operations Research With Infotrac', published 2003 under ISBN 9780534405724 and ISBN 053440572X.