The goal of the 2019 conference on Stochastic Processes and Algebraic Structures held in SPAS2019, Västerås, Sweden, from September 30th to October 2nd 2019 was to showcase the frontiers of research in several important topics of mathematics, mathematical statistics, and its applications. The conference has been organized along the following tracks: 1. Stochastic processes and modern statistical methods in theory and practice, 2. Engineering Mathematics, 3. Algebraic Structures and applications. The conference brought together a select group of mathematicians and scientists from related subjects and researchers and practitioners from the industry who actively contribute to theory and applications of stochastic and algebraic structures, methods, and models. The conference provided early stage researchers with opportunities to learn from the subject experts, to present their research as well as to establish valuable research contacts and collaboration in Sweden and internationally.New methods for pricing sophisticated financial derivatives, limit theorems for stochastic processes, advanced methods for statistical analysis of financial data, modern computational methods in various applied areas of science will be of particular interest to the readers of this book. The principal reason for the above interest is the fact that we are living in an extremely rapidly changing and challenging environment, and this fact requires quick introduction of completely new methods, based primarily on several applied disciplines simultaneously. Many advanced concepts in the book are illustrated in simple form with the help of tables and figures. Most of papers are written in a closed form and very suitable for initial studies in the subject. Description and solutions to sophisticated problems located at the intersection of various theoretical and applied areas of Natural Sciences, are collected in these proceedings. weiterlesen