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This book describes the modelling of prices of ?nancial assets in a simple d- crete time, discrete state, binomial framework. By avoiding the mathematical technicalitiesofcontinuoustime?nancewehopewehavemadethematerial accessible to a wide audience. Some of the developments and formulae appear here for the ?rst time in book form. We hope our book will appeal to various audiences. These include MBA s- dents,upperlevelundergraduatestudents,beginningdoctoralstudents,qu- titative analysts at a basic level and senior executives who seek material on new developments in ?nance at an accessible level. The basic building block in our book is the one-step binomial model where a known price today can take one of two possible values at a future time, which might, for example, be tomorrow, or next month, or next year. In this simple situation “risk neutral pricing” can be de?ned and the model can be applied to price forward contracts, exchange rate contracts and interest rate derivatives. In a few places we discuss multinomial models to explain the notions of incomplete markets and how pricing can be viewed in such a context, where unique prices are no longer available. The simple one-period framework can then be extended to multi-period m- els.TheCox-Ross-RubinsteinapproximationtotheBlackScholesoptionpr- ing formula is an immediate consequence. American, barrier and exotic - tions can all be discussed and priced using binomial models. More precise modelling issues such as implied volatility trees and implied binomial trees are treated, as well as interest rate models like those due to Ho and Lee; and Black, Derman and Toy.

This book contains classic material dating back to the 1900s and before. The content has been carefully selected for its interest and relevance to a modern audience. Carefully selecting the best articles from our collection we have compiled a series of historical and informative publications on the subject of mathematics. The titles in this range include "Ratio and Proportion" "Simple Equations" "Simultaneous Equations" and many more. Each publication has been professionally curated and includes all details on the original source material. This particular instalment, "The Binomial Theorem" contains a selection of classic educational articles containing examples and exercises on the subject of algebra. It is intended to illustrate aspects of the Binomial Theorem and serves as a guide for anyone wishing to obtain a general knowledge of the subject. We are republishing these classic works in affordable, high quality, modern editions, using the original text and artwork.

This book describes the modelling of prices of ?nancial assets in a simple d- crete time, discrete state, binomial framework. By avoiding the mathematical technicalitiesofcontinuoustime?nancewehopewehavemadethematerial accessible to a wide audience. Some of the developments and formulae appear here for the ?rst time in book form. We hope our book will appeal to various audiences. These include MBA s- dents,upperlevelundergraduatestudents,beginningdoctoralstudents,qu- titative analysts at a basic level and senior executives who seek material on new developments in ?nance at an accessible level. The basic building block in our book is the one-step binomial model where a known price today can take one of two possible values at a future time, which might, for example, be tomorrow, or next month, or next year. In this simple situation “risk neutral pricing” can be de?ned and the model can be applied to price forward contracts, exchange rate contracts and interest rate derivatives. In a few places we discuss multinomial models to explain the notions of incomplete markets and how pricing can be viewed in such a context, where unique prices are no longer available. The simple one-period framework can then be extended to multi-period m- els.TheCox-Ross-RubinsteinapproximationtotheBlackScholesoptionpr- ing formula is an immediate consequence. American, barrier and exotic - tions can all be discussed and priced using binomial models. More precise modelling issues such as implied volatility trees and implied binomial trees are treated, as well as interest rate models like those due to Ho and Lee; and Black, Derman and Toy.

This book deals with estimating and testing the probability of an event. It aims at providing practitioners with refined and easy to use techniques as well as initiating a new field of research in theoretical statistics. Practical, comprehensive tables for data analysis of the experimental state of investigations are included. Statisticians and practitioners will find this book an essential reference.

This book deals with estimating and testing the probability of an event. It aims at providing practitioners with refined and easy to use techniques as well as initiating a new field of research in theoretical statistics. Practical, comprehensive tables for data analysis of the experimental state of investigations are included. Statisticians and practitioners will find this book an essential reference.

At last - a book devoted to the negative binomial model and its many variations. Every model currently offered in commercial statistical software packages is discussed in detail - how each is derived, how each resolves a distributional problem, and numerous examples of their application. Many have never before been thoroughly examined in a text on count response models: the canonical negative binomial; the NB-P model, where the negative binomial exponent is itself parameterized; and negative binomial mixed models. As the models address violations of the distributional assumptions of the basic Poisson model, identifying and handling overdispersion is a unifying theme. For practising researchers and statisticians who need to update their knowledge of Poisson and negative binomial models, the book provides a comprehensive overview of estimating methods and algorithms used to model counts, as well as specific guidelines on modeling strategy and how each model can be analyzed to access goodness-of-fit.

This second edition of Hilbe's Negative Binomial Regression is a substantial enhancement to the popular first edition. The only text devoted entirely to the negative binomial model and its many variations, nearly every model discussed in the literature is addressed. The theoretical and distributional background of each model is discussed, together with examples of their construction, application, interpretation and evaluation. Complete Stata and R codes are provided throughout the text, with additional code (plus SAS), derivations and data provided on the book's website. Written for the practising researcher, the text begins with an examination of risk and rate ratios, and of the estimating algorithms used to model count data. The book then gives an in-depth analysis of Poisson regression and an evaluation of the meaning and nature of overdispersion, followed by a comprehensive analysis of the negative binomial distribution and of its parameterizations into various models for evaluating count data.

This second edition of Hilbe's Negative Binomial Regression is a substantial enhancement to the popular first edition. The only text devoted entirely to the negative binomial model and its many variations, nearly every model discussed in the literature is addressed. The theoretical and distributional background of each model is discussed, together with examples of their construction, application, interpretation and evaluation. Complete Stata and R codes are provided throughout the text, with additional code (plus SAS), derivations and data provided on the book's website. Written for the practising researcher, the text begins with an examination of risk and rate ratios, and of the estimating algorithms used to model count data. The book then gives an in-depth analysis of Poisson regression and an evaluation of the meaning and nature of overdispersion, followed by a comprehensive analysis of the negative binomial distribution and of its parameterizations into various models for evaluating count data.

Developed for the professional Master's program in Computational Finance at Carnegie Mellon, the leading financial engineering program in the U.S. Has been tested in the classroom and revised over a period of several years Exercises conclude every chapter; some of these extend the theory while others are drawn from practical problems in quantitative finance

Developed for the professional Master's program in Computational Finance at Carnegie Mellon, the leading financial engineering program in the U.S. Has been tested in the classroom and revised over a period of several years Exercises conclude every chapter; some of these extend the theory while others are drawn from practical problems in quantitative finance

Developed for the professional Master's program in Computational Finance at Carnegie Mellon, the leading financial engineering program in the U.S. Has been tested in the classroom and revised over a period of several years Exercises conclude every chapter; some of these extend the theory while others are drawn from practical problems in quantitative finance

William F Sharpe received the Nobel Prize in Economics in 1990 for his work on equilibrium pricing in capital markets. He was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the style and performance of investment funds. This book consists of a collection of Dr Sharpe's work in these and other areas.

The Fifth Edition of one of the standard works on number theory, written by internationally-recognized mathematicians. Chapters are relatively self-contained for greater flexibility. New features include expanded treatment of the binomial theorem, techniques of numerical calculation and a section on public key cryptography. Contains an outstanding set of problems.

Ever since Carl Linnaeus’s binomial system of scientific names was adopted in the eighteenth century, scientists have been eponymously naming organisms in ways that both honor and vilify their namesakes. This charming, informative, and accessible history examines the fascinating stories behind taxonomic nomenclature, from Linnaeus himself naming a small and unpleasant weed after a rival botanist to the recent influx of scientific names based on pop-culture icons—including David Bowie’s spider, Frank Zappa’s jellyfish, and Beyoncé’s fly.   Exploring the naming process as an opportunity for scientists to express themselves in creative ways, Stephen B. Heard’s fresh approach shows how scientific names function as a window into both the passions and foibles of the scientific community and as a more general indicator of the ways in which humans relate to, and impose order on, the natural world.

This book contains over 500 problems (with solutions) accompanying the lectures 26 through 50 of our 50 Lectures for American mathematics Competitions books covering the following topics: Counting How to solve inequality Polynomial Geometric sequence Binomial theorem Gaussian function Geometry Parallelograms Logarithms Word problems (distance and speed) Geometry Trapezoids Substitution method Analytic Geometry Circles and lines Probability System of equations Diophantine equations Geometry Circles Geometry Menelaus and Ceva Theorems Cauchy inequality Congruence Series and sequences Recursion method Trigonometry applications Analytic Geometry Ellipse Analytic Geometry Hyperbola Complex numbers

William F Sharpe received the Nobel Prize in Economics in 1990 for his work on equilibrium pricing in capital markets. He was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the style and performance of investment funds. This book consists of a collection of Dr Sharpe's work in these and other areas.

This unique approach to combinatorics is centered around unconventional, essay-type combinatorial examples, followed by a number of carefully selected, challenging problems and extensive discussions of their solutions. Topics encompass permutations and combinations, binomial coefficients and their applications, bijections, inclusions and exclusions, and generating functions.  Each chapter features fully-worked problems, including many from Olympiads and other competitions, as well as a number of problems original to the authors; at the end of each chapter are further exercises to reinforce understanding, encourage creativity, and build a repertory of problem-solving techniques.  The authors' previous text, "102 Combinatorial Problems," makes a fine companion volume to the present work, which is ideal for Olympiad participants and coaches, advanced high school students, undergraduates, and college instructors.  The book's unusual problems and examples will interest seasoned mathematicians as well.  "A Path to Combinatorics for Undergraduates" is a lively introduction not only to combinatorics, but to mathematical ingenuity, rigor, and the joy of solving puzzles.

Designed to serve as a textbook for courses in statistical analysis in linguistics, this book orients the reader to various quantitative methods and explains their implications for the field. The methods include chi-square, Fisher test, binomial test, ANOVA, correlation, regression, and cluster analysis. The advantages and limitations of each method are detailed and each method is illustrated with exemplary articles presenting linguistic data.

Now in its third edition, this highly successful text has been fully revised and updated with expanded sections on cutting-edge techniques including Poisson regression, negative binomial regression, multinomial logistic regression and proportional odds regression. As before, it focuses on easy-to-follow explanations of complicated multivariable techniques. It is the perfect introduction for all clinical researchers. It describes how to perform and interpret multivariable analysis, using plain language rather than complex derivations and mathematical formulae. It focuses on the nuts and bolts of performing research, and prepares the reader to set up, perform and interpret multivariable models. Numerous tables, graphs and tips help to demystify the process of performing multivariable analysis. The text is illustrated with many up-to-date examples from the medical literature on how to use multivariable analysis in clinical practice and in research.

This text introduces readers to the algebraic concepts of group and rings, providing a comprehensive discussion of theory as well as a significant number of applications for each.   Number Theory: Induction; Binomial Coefficients; Greatest Common Divisors; The Fundamental Theorem of Arithmetic Congruences; Dates and Days. Groups I: Some Set Theory; Permutations; Groups; Subgroups and Lagrange's Theorem; Homomorphisms; Quotient Groups; Group Actions; Counting with Groups. Commutative Rings I: First Properties; Fields; Polynomials; Homomorphisms; Greatest Common Divisors; Unique Factorization; Irreducibility; Quotient Rings and Finite Fields; Officers, Magic, Fertilizer, and Horizons. Linear Algebra: Vector Spaces; Euclidean Constructions; Linear Transformations; Determinants; Codes; Canonical Forms. Fields: Classical Formulas; Insolvability of the General Quintic; Epilog. Groups II: Finite Abelian Groups; The Sylow Theorems; Ornamental Symmetry. Commutative Rings III: Prime Ideals and Maximal Ideals; Unique Factorization; Noetherian Rings; Varieties; Grobner Bases.   For all readers interested in abstract algebra.