Understanding Probability : Chance Rules in Everyday Life

In this fully revised second edition of Understanding Probability, the reader can learn about the world of probability in an informal way. 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. This second edition has wider coverage, more explanations and examples and exercises, and a new chapter introducing Markov chains, making it a great choice for a first probability course. But its easy-going style makes it just as valuable if you want to learn about the subject on your own, and high school algebra is really all the mathematical background you need. "In this fully revised second edition of Understanding Probability, the reader can learn about the world of probability in an appealing way. 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." "This second edition has wider coverage, more explanations and examples and exercises, and a new chapter introducing Markov chains, making it a great choice for a first probability course. But its easy-going style makes it just as valuable if you want to learn about the subject on your own, and high school algebra is really all the mathematical background you need."--Jacket Henk Tijms is Professor in Operations Research at the Vrije University in Amsterdam. The author of several textbooks including, A First Course in Stochastic Models, he is intensively active in the popularization of applied mathematics and probability in Dutch high schools. He has also written numerous papers on applied probability and stochastic optimization for international journals including Applied Probability and Probability in the Engineering and Informational Sciences. Using examples from lotteries and casino games, the author of this accessible book demystifies much of probability theory, including betting systems and the central limit theorem. This fully revised second edition has been expanded considerably, with more explanations, examples and exercises providing all the material taught in an introductory probability course. Cover; Half-title; Title; Copyright; Contents; Preface; Introduction; Part One Probability in action; Part Two Essentials of probability; Appendix Counting methods and ex; Recommended reading; Answers to odd-numbered problems; Bibliography; Index. New edition of the popular and informal introduction to probability, now with even more examples and exercises to help understanding.

Written with wit and clarity, this book introduces the world of probability in an informal way.