Probability: The Science of Uncertainty with Applications to Investments, Insurance, and Engineering 
asked by mountaindew on November 28, 2006 11:30 AM
Bean's PROBABILITY: THE SCIENCE OF UNCERTAINTY WITH APPLICATIONS TO INVESTMENTS, INSURANCE, AND ENGINEERING is an 'applied' book that will be of interest to instructors teaching probability in mathematics departments of operations research, statistics, actuarial science, management science, and decision science. Comprehensive, easy to read and comprehend, and current, the book uses investment, insurance, and engineering applications throughout as a unifying theme.
Reviews
I appreciate that many people will be buying this because it has been endorsed by the Society of Actuaries. My review is for those who aren't being compelled to use the book in exam prep. I find "The Science of Uncertainty" to be the most consistently useful of the statistics texts in my office. The examples are clear, it has the right equations, and it's well organized.
Some people here are complaining of inaccuracies but they provide no examples and, frankly, I've never noticed a problem.
I like that authors provided an appendix explaining how to manipulate the distributions they discuss in the book using Mathematica. This was not new to me, but I can imagine it would save others some headaches.
Some people here are complaining of inaccuracies but they provide no examples and, frankly, I've never noticed a problem.
I like that authors provided an appendix explaining how to manipulate the distributions they discuss in the book using Mathematica. This was not new to me, but I can imagine it would save others some headaches.
reviewed by reviewer on November 28, 2006 8:58 PM
I used this book to study for SOA exam P and loved it! If you already have some background in statistics and probability, this is the book to go. It will fill in the blanks left by your average school textbook and give you the nesessary coverage of the exam material.
reviewed by mountaindew on November 29, 2006 12:03 AM
For one who has a moderate amount of knowledge on probability, it is still a hard book to read. There are mistakes in the given examples that I can be certain of. But of those I didn't understand, I started to wonder if the answers are correct... What about quality control so that the readers can be more confident of it? Sad that we could not find better books on the applications of probability theories that have lots and lots of numerical examples, and exercises with answers....I am still searching.
reviewed by heavymetal on November 29, 2006 2:24 PM
