Understanding Probability
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Understanding Probability: Chance Rules in Everyday Life

Understanding Probability: Chance Rules in Everyday Life


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About the Book

In this fully revised second edition of Understanding Probability, the reader can learn about the world of probability in an informal way. The author demystifies the law of large numbers, betting systems, random walks, the bootstrap, rare events, the central limit theorem, the Bayesian approach and more. This second edition has wider coverage, more explanations and examples and exercises, and a new chapter introducing Markov chains, making it a great choice for a first probability course. But its easy-going style makes it just as valuable if you want to learn about the subject on your own, and high school algebra is really all the mathematical background you need.

Table of Contents:
Preface; Introduction; Part I. Probability in Action: 1. Probability questions; 2. The law of large numbers and simulation; 3. Probabilities in everyday life; 4. Rare events and lotteries; 5. Probability and statistics; 6. Chance trees and Bayes' rule; Part II. Essentials of Probability: 7. Foundations of probability theory; 8. Conditional probability and Bayes; 9. Basic rules for discrete random variables; 10. Continuous random variables; 11. Jointly distributed random variables; 12. Multivariate normal distribution; 13. Conditional distributions; 14. Generating functions; 15. Markov chains; Appendix; Recommended readings; Answers to odd-numbered problems; Bibliography.

About the Author :
Henk Tijms is Professor of Operations Research at the Vrije University in Amsterdam. The author of several textbooks, including A First Course in Stochastic Models, he is intensively active in the popularization of applied mathematics and probability in Dutch high schools. He has also written numerous papers on applied probability and stochastic optimization for international journals, including Applied Probability and Probability in the Engineering and International Sciences.

Review :
'This book is eminently suitable for students undertaking a first course in probability. It would be particularly useful for service teaching where students are not aiming for a degree classification in mathematics or statistics.' Significance '... an extremely well-done result of carefully designing an introduction to probability and an excellent choice ... [for] ... a textbook for a first course in probability for students from a wide area of disciplines.' Internationale Mathematische Nachrichten 'This book gives an introduction to probability theory by using motivating examples to illustrate the concepts.' Monatshefte fur Mathematik 'The author clearly wants to stimulate the reader's interest in probability, both as an academic subject and as a tool with which to assess our daily world ... The material on the history of the subject, interspersed throughout, is a worthy inclusion. The number of famous applications of probability included is remarkable - the arcsine law for random walks, the drunkard's walk in n dimensions, the Kelly betting system, the 'hot hand theory', betting systems for roulette, the Pollaczek-Khintchine queuing formula, Black-Scholes formula, and Benford's Law, just to name a few. .. I would recommend this text for instructors who may wish to try a fresh and very stimulating approach towards a first course in probability.' Mark F. Schilling, California State University 'The book is written in a narrative yet precise style which makes it enjoyable to read. It is well suited for first courses in probability for students of engineering or computer science. It may also be used as additional material in other courses or for self-study.' Zentralblatt MATH


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Product Details
  • ISBN-13: 9780521701723
  • Publisher: Cambridge University Press
  • Publisher Imprint: Cambridge University Press
  • Edition: Revised edition
  • Language: English
  • Returnable: N
  • Returnable: N
  • Spine Width: 25 mm
  • Weight: 608 gr
  • ISBN-10: 0521701724
  • Publisher Date: 26 Jul 2007
  • Binding: Paperback
  • Height: 230 mm
  • No of Pages: 452
  • Returnable: N
  • Returnable: N
  • Sub Title: Chance Rules in Everyday Life
  • Width: 153 mm


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