Probability and Statistical Models

Foundations for Problems in Reliability and Financial Mathematics

Authors: Gupta, Arjun K., Zeng, Wei-Bin, Wu, Yanhong

  • Lays the foundation for solving problems in reliability, insurance, finance, and credit risk
  • Exercises and solutions to selected problems accompany each chapter
  • Many of the chapters that examine central topics in applied probability can be read independently, allowing both instructors and readers extra flexibility in the use of the book
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Buy this book

eBook $44.99
price for USA (gross)
  • ISBN 978-0-8176-4987-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $59.95
price for USA
  • ISBN 978-0-8176-4986-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this Textbook

With an emphasis on models and techniques, this textbook introduces many of the fundamental concepts of stochastic modeling that are now a vital component of almost every scientific investigation. These models form the basis of well-known parametric lifetime distributions such as exponential, Weibull, and gamma distributions, as well as change-point and mixture models. The authors also consider more general notions of non-parametric lifetime distribution classes. In particular, emphasis is placed on laying the foundation for solving problems in reliability, insurance, finance, and credit risk. Exercises and solutions to selected problems accompany each chapter in order to allow students to explore these foundations.

The key subjects covered include:

* Exponential distributions and the Poisson process

* Parametric lifetime distributions

* Non-parametric lifetime distribution classes

* Multivariate exponential extensions

* Association and dependence

* Renewal theory

* Problems in reliability, insurance, finance, and credit risk

This work differs from traditional probability textbooks in a number of ways. Since no measure theory knowledge is necessary to understand the material and coverage of the central limit theorem and normal theory related topics has been omitted, the work may be used as a single-semester senior undergraduate or first-year graduate textbook as well as in a second course on probability modeling. Many of the chapters that examine central topics in applied probability can be read independently, allowing both instructors and readers extra flexibility in their use of the book.

Probability and Statistical Models is for a wide audience including advanced undergraduate and beginning-level graduate students, researchers, and practitioners in mathematics, statistics, engineering, and economics.

About the authors

Arjun K. Gupta is the author of a previous Birkhäuser book: Gupta/Chen, "Parametric Statistical Change Point Analysis," (978-0-8176-4169-6, 2000, 184 p.)  

Reviews

From the reviews:

“This is a nice introductory textbook on stochastic processes, basically devoted to the Poisson process and its variants. The basic results are well illustrated by many examples with many problems at the end of each chapter. … The book is suitable for students that do not have an advanced training in the measure-theoretic aspects of probability or stochastic integration.” (Henryk Gzyl, Zentralblatt MATH, Vol. 1215, 2011)

Table of contents (11 chapters)

  • Preliminaries

    Gupta, Arjun K. (et al.)

    Pages 1-21

  • Exponential Distribution

    Gupta, Arjun K. (et al.)

    Pages 23-43

  • Poisson Process

    Gupta, Arjun K. (et al.)

    Pages 45-70

  • Parametric Families of Lifetime Distributions

    Gupta, Arjun K. (et al.)

    Pages 71-86

  • Lifetime Distribution Classes

    Gupta, Arjun K. (et al.)

    Pages 87-115

Buy this book

eBook $44.99
price for USA (gross)
  • ISBN 978-0-8176-4987-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $59.95
price for USA
  • ISBN 978-0-8176-4986-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Probability and Statistical Models
Book Subtitle
Foundations for Problems in Reliability and Financial Mathematics
Authors
Copyright
2010
Publisher
Birkhäuser Basel
Copyright Holder
Birkhäuser Boston
eBook ISBN
978-0-8176-4987-6
DOI
10.1007/978-0-8176-4987-6
Hardcover ISBN
978-0-8176-4986-9
Edition Number
1
Number of Pages
XII, 267
Topics