Elements of Probability and Statistics

An Introduction to Probability with de Finetti’s Approach and to Bayesian Statistics

Nonfiction, Science & Nature, Mathematics, Statistics, Computers, Application Software
Cover of the book Elements of Probability and Statistics by Francesca Biagini, Massimo Campanino, Springer International Publishing
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Author: Francesca Biagini, Massimo Campanino ISBN: 9783319072548
Publisher: Springer International Publishing Publication: January 22, 2016
Imprint: Springer Language: English
Author: Francesca Biagini, Massimo Campanino
ISBN: 9783319072548
Publisher: Springer International Publishing
Publication: January 22, 2016
Imprint: Springer
Language: English

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.

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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.

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