Synopses & Reviews
Like it or not, chance plays a big part in our lives. Every day we face situations where the result is uncertain, and, perhaps without realizing it, we guess about the likelihood of one outcome or another. Fortunately, mastering the concepts of probability can cast new light on situations where randomness and chance appear to rule. In this book, which uses lotteries and casino games to provide the many illustrative examples, the reader can learn about the world of probability. 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. Written with wit and clarity, this book can be read easily by anyone who is not put off by a few numbers and some high-school algebra. It is also ideally suited to students of all disciplines taking their first course in probability.
Synopsis
Written with wit and clarity, this book introduces the world of probability in an informal way. Emphasizes why probability works and how it can be applied, the author discusses topics such as lotteries and casino games in terms of probability concepts like the law of large numbers, betting systems, random walks, the bootstrap, rare events, the central limit theorem, the multivariate normal distribution and more.
Synopsis
Mastering the concepts of probability can cast new light on situations where randomness and chance appear to rule. In this book, which uses lotteries and casino games to provide lots of examples, the author demystifies much of probability theory, including betting systems, the central limit theorem and the Bayesian approach. Written with wit and clarity, this book is for anyone who is not put off by a few numbers and some high-school algebra. It is also ideally suited to students of all disciplines taking their first course in probability.
Table of Contents
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: 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.