Introduction to Probability and Statistics for Science, Engineering, and Finance - Walter A. Rosenkrantz

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Introduction to Probability and Statistics for Science, Engineering, and Finance

Name: Introduction to Probability and Statistics for Science, Engineering, and Finance
Brand: Taylor & Francis Ltd
Price: 89.5 AUD
Availability: BackOrder

By: Walter A. Rosenkrantz

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Paperback | 21 January 2023

At a Glance

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680 Pages

Dimensions(cm)
25.3 x 17.6 x 4.0

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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

Coxâ"Rossâ"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 Blackâ"Scholes option pricing formula

An introduction to modern portfolio theory

Mean-standard deviation diagram of a collection of portfolios

Computing a stockâs 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.

Industry Reviews

"The book provides a very well-written, comprehensive treatment of all the standard requirements for an introductory course ... Summing Up: Highly recommended."
-CHOICE, February 2009

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