Elements of Probability and Statistics : An Introduction to Probability With the De Finetti?s Approach and to Bayesian Statistics

Biagini, Francesca; Campanino, Massimo

ISBN 10: 3319072536 / ISBN 13: 9783319072531

Published by Springer, 2016

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Seller Inventory # 23057926-n

Bibliographic Details

Title: Elements of Probability and Statistics : An ...

Publisher: Springer

Publication Date: 2016

Binding: Soft cover

Condition: New

About this title

Synopsis:

This book provides an introduction to elementary probability and to Bayesian statistics using de Finetti's subjectivist approach. One of the features of this approach is that it does not require the introduction of sample space – a non-intrinsic concept that makes the treatment of elementary probability unnecessarily complicate – but introduces as fundamental the concept of random numbers directly related to their interpretation in applications. Events become a particular case of random numbers and probability a particular case of expectation when it is applied to events. The subjective evaluation of expectation and of conditional expectation is based on an economic choice of an acceptable bet or penalty. The properties of expectation and conditional expectation are derived by applying a coherence criterion that the evaluation has to follow. The book is suitable for all introductory courses in probability and statistics for students in Mathematics, Informatics, Engineering, and Physics.

Review:

“The authors are to be commended for their attempt to show that de Finetti's approach can in fact be used successfully in introducing and developing probability theory.” (A. I. Dale, Mathematical Reviews, November, 2016)