February 2019
Intermediate to advanced
634 pages
17h 41m
English
Content preview from Introduction to Probability, Second Edition, 2nd Edition
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Inequalities and limit theorems
“What should I do if I can’t calculate a probability or expectation exactly?” Almost everyone who uses probability has to deal with this sometimes. Don’t panic. There are powerful strategies available: simulate it, bound it, or approximate it.
• Simulations using Monte Carlo: We have already seen many examples of simulations in this book; the R sections give numerous examples where a few lines of code and a few seconds on a computer suffice to get good approximate answers. “Monte Carlo” just means that the simulations use random numbers (the term originated from the Monte Carlo Casino in Monaco).
Monte Carlo simulation is an extremely powerful technique, and there are many problems where it is the only
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.