Elements of Probability and Statistics: an Introduction to Probability with de Finetti's Approach and to Bayesian Statistics

Description

Thisbook provides an introduction to elementary probabilityand to Bayesian statistics usingde Finetti's subjectivist approach. One of the features of this approach is that it does not require theintroduction ofsample space a non-intrinsic concept that makes the treatment of elementary probability unnecessarily complex but introduces as fundamental the concept of random numbers directly related to itsinterpretation in applications. Events become a particular case of randomnumbers and probability a particular case of expectation when it isapplied to events. The subjective evaluation of expectation and ofconditional expectation is based on an economic choice of an acceptablebet or penalty.The properties of expectation and conditional expectationare 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."