By Sidney I. Resnick
This entire textual content offers a fascinating and worthwhile combination of the mathematical, probabilistic and statistical instruments utilized in heavy-tail analysis. Heavy tails are attribute of many phenomena the place the likelihood of a unmarried large price affects heavily. Record-breaking coverage losses, financial-log returns, documents sizes saved on a server, transmission premiums of documents are all examples of heavy-tailed phenomena.
* particular textual content dedicated to heavy-tails
* Emphasizes either chance modeling and statistical equipment for fitting models. so much remedies concentrate on one or the opposite yet now not both
* offers extensive applicability of heavy-tails to the fields of knowledge networks, finance (e.g., value-at- risk), coverage, and hydrology
* transparent, effective and coherent exposition, balancing thought and real info to teach the applicability and obstacles of sure methods
* Examines intimately the mathematical homes of the methodologies as good as their implementation in Splus or R statistical languages
* Exposition pushed via various examples and exercises
Prerequisites for the reader contain a previous path in stochastic methods and chance, a few statistical heritage, a few familiarity with time sequence research, and talent to take advantage of (or at the least to profit) a records package deal equivalent to R or Splus. This paintings will serve second-year graduate scholars and researchers within the components of utilized arithmetic, information, operations examine, electric engineering, and economics.