Key Features
• Analysis is unique to the text and elegantly designed. Examples include the knockout tournament and multiple players gambling ruin problem, along with results concerning the sum of uniform and the sum of geometric random variables.
• Intuitive explanations are supported with an abundance of examples to give readers a thorough introduction to both the theory and applications of probability.
• Three sets of exercises are given at the end of each chapter: Problems, Theoretical Exercises, and Self-Test Problems and Exercises.
• New - Streamlined exposition focuses on clarity and deeper understanding.
• Many new and updated problems and exercises.
• New - Examples such as Example 4n of Chapter 3, which deals with computing NCAA basketball tournament win probabilities, and Example 5b of Chapter 4, which introduces the friendship paradox.
• New - Material on the Pareto distribution, on Poisson limit results, and on the Lorenz curve.