Elementary Probability Theory
by: Kai Lai Chung, Farid Aitsahlia,
* Publisher: Springer
* Number Of Pages: 384
* Publication Date: 2006-07-14
* Sales Rank: 123268
* ISBN / ASIN: 038795578X
* EAN: 9780387955780
* Binding: Hardcover
* Manufacturer: Springer
* Studio: Springer
* Average Rating: 4
* Total Reviews: 3
Book Description:
This is an introductory textbook on probability theory and its applications. Basic concepts such as probability measure, random variable, distribution, and expectation are fully treated without technical complications. Both the discrete and continuous cases are covered, the elements of calculus being used in the latter case. The emphasis is on essential probabilistic reasoning, amply motivated, explained, and illustrated with a large number of carefully selected examples. Special topics include combinatorial problems, urn schemes, Poisson processes, random walks, genetic models, and Markov chains. Problems with solutions are provided at the end of each chapter. Its easy style and full discussion make this a useful text not only for mathematics and statistics majors, but also for students in engineering and physical, biological, and social sciences. This edition adds two new chapters covering applications to mathematical finance. Elements of modern portfolio and option theories are presented in a detailed and rigorous manner. The approach distinguishes this text from other more mathematically advanced treatises or more technical manuals. Kai Lai Chung is Professor Emeritus of Mathematics at Stanford University. Farid AitSahlia is a Senior Scientist with DemandTec, where he develops econometric and optimization methods for demand-based pricing models. He is also a visiting scholar in the department of statistics at Stanford University, where he obtained his Ph.D.in operations research.
Date: 2005-04-08 Rating: 5
Review:
best textbook for elementary probability theory
As a professor in computer science, I am teaching a seminar course in which I wanted to cover basic probability theory in a week. I read at least a half dozen textbooks in the university library and found this book to be far better than others for my purpose. In particular, the material I used was the derivation from the binomial distribution (a coin toss) to the normal and the Poisson distributions, which I covered in two classes. Students liked the many interesting, real-life examples in the book. In addition, I taught the two proofs for the law of large numbers. The second one from Chebyshev was more powerful (applies to non-identical distributions), stronger (guaratees the speed of convergence), simpler and shorter (half a page with no need of mathematical analysis). It eclipsed the theories of other mathematicians in the previous 200 years. The Chebyshev's theorem was new to me and to all the people I mentioned this to.
Of the books I know, this is the best entry level textbook for probability theories. I did not read the chapters on mathematical finance.
http://ifile.it/bi3hjn/elementary_probability_theory_with_stochastic_processes_and_an_introduction_to_mathematical_finance.rar
