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  • Stochastic Models with Power-Law Tails

    The Equation X = AX + B

    Series series Mathematics and Statistics (R0)
    In this monograph the authors give a systematic approach to the probabilistic properties of the fixed point equation X=AX+B. A probabilistic study of the stochastic recurrence equation X_t=A_tX_{t-1}+B_t for real- and matrix-valued random variables A_t, where (A_t,B_t) constitute an iid sequence, is provided. The classical theory for these equations, including the existence and uniqueness of a ... Read more

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  • Business Statistics for Competitive Advantage with Excel 2010

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    Series series Economics and Finance (R0)
    Finance and energy markets have been an active scientific field for some time, even though the development and applications of sophisticated quantitative methods in these areas are relatively new—and referred to in a broader context as energy finance. Energy finance is often viewed as a branch of mathematical finance, yet this area continues to provide a rich source of issues that are fuelling new ... Read more

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    Statistical statements and results are read and used in everyday life and are also presented in the form of charts and diagrams. This book covers basic introductory statistics and brings to light how these statistical results are arrived at, starting with the collection of the data, its organization and summarisation, followed by the mathematical tools used both graphical and analytical to depict, ... Read more

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    Focusing on high-dimensional applications, this 4th edition presents the tools and concepts used in multivariate data analysis in a style that is also accessible for non-mathematicians and practitioners. All chapters include practical exercises that highlight applications in different multivariate data analysis fields. All of the examples involve high to ultra-high dimensions and represent a ... Read more

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    This book presents a new statistical method of constructing a price index of a financial asset where the price distributions are skewed and heavy-tailed and investigates the effectiveness of the method. In order to fully reflect the movements of prices or returns on a financial asset, the index should reflect their distributions. However, they are often heavy-tailed and possibly skewed, and ... Read more

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