American Journal of Theoretical and Applied Statistics
Volume 5, Issue 1, January 2016, Pages: 23-26
Received: Jan. 17, 2016;
Accepted: Jan. 26, 2016;
Published: Feb. 16, 2016
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Bodo Herzog, Department of Economics, Reutlingen University, Reutlingen, Germany; ESB Business School, Reutlingen University, Reutlingen, Germany; RRI Reutlingen Research Institute, Reutlingen, Germany
This paper is a commentary on the book ‘Probability and Stochastic Processes’ from Ionut Florescu. The book is an excellent introduction to both probability theory and stochastic processes. It provides a comprehensive discussion of the main statistical concepts including the theorems and proofs. The introduction to probability theory is easy accessible and a perfect starting point for undergraduate students even with majors in other subjects than science, such as business or engineering. The book is also up-to-date because it includes programming code for simulations. However, the book has some weaknesses. It is less convincing in more advanced topics of stochastic theory and it does not include solutions to excises and recent research trends.
A Review on ‘Probability and Stochastic Processes’, American Journal of Theoretical and Applied Statistics.
Vol. 5, No. 1,
2016, pp. 23-26.
Copyright © 2016 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/
) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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