The theory of probability, applied extensively in all fields of engineering and physical sciences to model situations and outcomes, finds usage in fields as varied as social and behavioural sciences, biology, economics, management and business studies as well. This book, written to cater to an undergraduate engineering curriculum, explains the concepts and the mathematics of probability and stochastic processes to enable a student to solve practical problems with confidence. It covers probability axioms, conditional probability, special distributions, random variables, expectations, generating functions, operations on random variables, random processes and their temporal and structural characteristics and response of linear systems to random signals. Several solved examples illustrating the application of key concepts have been included in each chapter. This, together with the generous number of chapter-end exercises of varied levels of difficulty makes this book invaluable as a textbook on the subject.