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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 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

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

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.

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.

Identifies the advantages and disadvantages of various approaches to mortgage-backed securities and shows investors how to develop an analytical method tailored to their own investment objectives. Examines methods such as scenario, binomial, Monte Carlo, and other option-adjusted spread models. Annotation copyright Book News, Inc. Portland, Or.

This book offers a detailed history of parametric statistical inference. Covering the period between James Bernoulli and R.A. Fisher, it examines: binomial statistical inference; statistical inference by inverse probability; the central limit theorem and linear minimum variance estimation by Laplace and Gauss; error theory, skew distributions, correlation, sampling distributions; and the Fisherian Revolution. Lively biographical sketches of many of the main characters are featured throughout, including Laplace, Gauss, Edgeworth, Fisher, and Karl Pearson. Also examined are the roles played by DeMoivre, James Bernoulli, and Lagrange.

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.

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.

The definitive illustrated reference guide to plant binomials for both gardeners and botanists, RHS Gardener's Botanical is an ideal companion for use in the garden or when selecting new plants. It contains more than 5,000 plant names and an easy-to-use 16-page alphabetical index of common names, with a definition and pronunciation guide for each.Includes features such as 'Genus Spotlight', which provides further details on important genera, and more than 350 beautiful botanical illustrations.An invaluable illustrated guide for gardeners and botanists.