Bayesian methods in reliability cannot be fully utilized and understood without full comprehension of the essential differences that exist between frequentist probability and subjective probability. Switching from the frequentist to the subjective approach requires that some fundamental concepts be rethought and suitably redefined.
Disney Educational - BN- Bill Nye The Science Guy: Probability
The Bill Nye the Science Guy series helps create a fun atmosphere for students to learn scientific concepts. Nye's lessons are broken up with silly antics, jokes, puns, off-site visits, music, and special guests, without losing the main thrust of the subject. Bill Nye the Science Guy: Probability explores the uses of probability in a field such as weather forecasting. Nye explains that while probability is guessing, it is a very educated form of guessing.
Levy Processes in Finance: Pricing Financial Derivatives (Wiley Series in Probability and Statistics)
Financial mathematics has recently enjoyed considerable interest on account of its impact on the finance industry. In parallel, the theory of Levy processes has also seen many exciting developments. These powerful modelling tools allow the user to model more complex phenomena, and are commonly applied to problems in finance.
This book is an introduction to probability theory covering laws of large numbers, central limit theorems, random walks, martingales, Markov chains, ergodic theorems, and Brownian motion. It is a comprehensive treatment concentrating on the results that are the most useful for applications. Its philosophy is that the best way to learn probability is to see it in action.
