Elementary Probability Theory: With Stochastic Processes and an Introduction to Mathematical Finance (Undergraduate Texts in Mathematics) by Kai Lai Chung (PDF)

Description

This book provides an introduction to probability theory and its applications. The emphasis is on essential probabilistic reasoning, which is illustrated with a large number of samples. The fourth edition adds material related to mathematical finance as well as expansions on stable laws and martingales.From the reviews: “Almost thirty years after its first edition, this charming book continues to be an excellent text for teaching and for self study.” — STATISTICAL PAPERS

User’s Reviews

Opiniones editoriales Review “In spite of the original edition of the book being nearly thirty years old, the text still has its role to play in first and second year undergraduate probability courses. It provides an excellent foundation to more advanced courses in the subject.”Short Book Reviews, Vol. 23/3, Dec. 2003″This edition is the third revision of a text on mathematical probability first published in 1974. The text is aimed at undergraduate mathematics students and is accessible to a general audience. The prose is accurate, entertaining, and dense with historical tidbits. Two concluding chapters on mathematical finance have been added to the eight chapters in the third edition by the second author.” The American Statistician, May 2004From the reviews of the fourth edition: “The main novelty in the fourth edition of this well-written book is the addition of new chapters … . The new chapters share the friendly yet rigorous style of the former ones. They begin with an account of the financial vocabulary, which is then expounded in probabilistic terms. … Almost thirty years after its first edition, this charming book continues to be an excellent text for teaching and for self study.” (Ricardo Maronna, Statistical Papers, Vol. 45 (4), 2004) About the Author

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐This book is for genius in math.

⭐

⭐As a professor in computer science, I am teaching a seminar course in which I wanted to cover basic probability theory in a week. I read at least a half dozen textbooks in the university library and found this book to be far better than others for my purpose. In particular, the material I used was the derivation from the binomial distribution (a coin toss) to the normal and the Poisson distributions, which I covered in two classes. Students liked the many interesting, real-life examples in the book. In addition, I taught the two proofs for the law of large numbers. The second one from Chebyshev was more powerful (applies to non-identical distributions), stronger (guaratees the speed of convergence), simpler and shorter (half a page with no need of mathematical analysis). It eclipsed the theories of other mathematicians in the previous 200 years. The Chebyshev’s theorem was new to me and to all the people I mentioned this to.Of the books I know, this is the best entry level textbook for probability theories. I did not read the chapters on mathematical finance.

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⭐I remember this ghastly nightmare from my undergraduate days. It was the only math textbook that I really struggled with. Part of that was probably due to having an inordinately lousy professor, but part of it is because the book reads more like a quick review for people who already know the subject matter than as an actual tool for learning.As a contrast, check out what people are saying about “A Book of Abstract Algebra” by Pinter — they’re right, THAT is everything a math textbook should be. My class never quite finished it, but I had no trouble reading the later chapters on my own. I still have a copy of Chung’s book, but it only has one remotely interesting thing in it that I remember, which was Laplace’s calculation of the probability that the sun will rise tomorrow.Bottom line: if you’re unfortunate enough to end up with a professor who is still using Chung’s book (I used it in 1997) … run!

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⭐I just read the review by another reader, I would say unfortunately he was wrong. This book is one of the greatest probability book I have ever seen. If you want high-school level combination problem, this book is not for you. But if you want the essence of probability theory, this will be the perfect book for the entry. Actually I’m annoied by the comments of the other reviewer. I think he needs to review himself if he is not competent enough to take such course.

⭐

⭐This book is a bad introduction to mathematical probability theory. It skips steps everywhere. It is only clear if you have a very sophisticated deep understanding of advanced multi-variable calculus. “A First Course in Probability” by Sheldon Ross is a much better option if you really want to learn probability. If you master the material at this level and wish to learn more advanced probability, I recommend Rosenthal’s “A First Look at Rigorous Probability Theory”.

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⭐This book is a greeting starting point to learn (or in my case refresh) the basics of probability before you move onto a book which covers measure-theoretic probability.

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⭐En realidad yo ya conocía el libro de mis días en la Universidad, y me pareció excelente. Ahora deseo usarlo para dar clases.

⭐one of the best introductory books of probability the people who claim that is too old doesn’t know the reason that makes a classic

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Download Elementary Probability Theory: With Stochastic Processes and an Introduction to Mathematical Finance (Undergraduate Texts in Mathematics) PDF
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