Designed for first-time learners, this revised edition focuses on making probability accessible across various fields, including mathematics, statistics, data science, engineering, computer science, and business analytics. It specifically targets students in statistics and data science, providing a solid foundation in the basics of probability, ensuring clarity and understanding for those entering the subject.
The second edition represents an ongoing effort to make probability accessible to students in a wide range of fields such as mathematics, statistics and data science, engineering, computer science, and business analytics.
This book brings together a variety of probability applications through entertaining stories that will appeal to a broad readership. What are the best stopping rules for the dating problem? What can Bayes’ formula tell us about the chances of a Champions League draw for soccer teams being rigged? How could syndicates win millions of lottery dollars by buying a multitude of tickets at the right time? What’s the best way to manage your betting bankroll in a game in which you have an edge? How to use probability to debunk quacks and psychic mediums? How can the Monte Carlo simulation be used to solve a wide variety of probability problems? Are seven riffle shuffles of a standard deck of 52 playing cards enough for randomness? These questions and many more are addressed in seventeen short chapters that can be read independently. The engaging stories are instructive and demonstrate valuable probabilistic ideas. They offer students material that they most likely don’t learn in class, and offer teachers a new way of teaching their subject.
Focusing on the significance of probability, this textbook serves as an essential resource for understanding its applications in various fields. It provides a thorough yet succinct exploration of key concepts, making it accessible for learners seeking to grasp the importance of probability in real-world scenarios.