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Introduction to Probability and Statistics for Science, Engineering, and Finance (Other)

Name: Introduction to Probability and Statistics for Science, Engineering, and Finance (Other)
Brand: Walter A Rosenkrantz
SKU: 7719190
Price: 146.19 USD
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Book format
Hardcover
Fiction/nonfiction
Non-Fiction
Genre
Education
Pages
680
Edition
1st Edition
Publisher
CRC Press

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Integrating interesting and widely used concepts of financial engineering into traditional statistics courses, Introduction to Probability and Statistics for Science, Engineering, and Finance illustrates the role and scope of statistics and probability in various fields.

The text first introduces the basics needed to understand and create tables and graphs produced by standard statistical software packages, such as Minitab, SAS, and JMP. It then takes students through the traditional topics of a first course in statistics. Novel features include:

Applications of standard statistical concepts and methods to the analysis and interpretation of financial data, such as risks and returns

Cox-Ross-Rubinstein (CRR) model, also called the binomial lattice model, of stock price fluctuations

An application of the central limit theorem to the CRR model that yields the lognormal distribution for stock prices and the famous Black-Scholes option pricing formula

An introduction to modern portfolio theory

Mean-standard deviation diagram of a collection of portfolios

Computing a stock's betavia simple linear regression

As soon as he develops the statistical concepts, the author presents applications to engineering, such as queuing theory, reliability theory, and acceptance sampling; computer science; public health; and finance. Using both statistical software packages and scientific calculators, he reinforces fundamental concepts with numerous examples.

Introduction to Probability and Statistics for Science, Engineering, and Finance (Other)

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Specifications

Book format

Hardcover

Fiction/nonfiction

Non-Fiction

Genre

Education

Pages

680

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