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

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

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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 Coxa€“Rossa€“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 Blacka€“Scholes option pricing formula An introduction to modern portfolio theory Mean-standard deviation diagram of a collection of portfolios Computing a stocka€™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.Problem 1.75 The following data record the amount of water (x), in centimeters, and the yield of hay (y), in metric tons per hectare, on an ... engine displacement ( disp), and fuel consumption in gallons per 100 miles (gpm) for 18 2004-05 model year automobiles. ... 25 3.5 4.000 Acura RSX 2.78 31 2 3.226 Acura TL 3.565 27 3.2 3.704 Audi A4 3.745 23 3 4.348 Audi A8 4.505 20 4.2 5.000 BMW3 3.39 26 3 anbsp;...


Title:Introduction to Probability and Statistics for Science, Engineering, and Finance
Author: Walter A. Rosenkrantz
Publisher:CRC Press - 2008-07-10
ISBN-13:

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