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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Fundamentals of Heavy Tails: Properties, Emergence, and Estimation

The Fundamentals of Heavy Tails: Properties, Emergence, and Estimation

Nair, Jayakrishnan
Wierman, Adam
Zwart, Bert

Hardcover

Series: Cambridge Statistical and Probabilistic Mathematics, Book 53

Probability & Statistics

ISBN10: 1316511731
ISBN13: 9781316511732
Publisher: Cambridge University Press
Published: Jun 9 2022
Pages: 264
Weight: 1.49
Height: 0.67 Width: 7.20 Depth: 10.00
Language: English
Heavy tails -extreme events or values more common than expected -emerge everywhere: the economy, natural events, and social and information networks are just a few examples. Yet after decades of progress, they are still treated as mysterious, surprising, and even controversial, primarily because the necessary mathematical models and statistical methods are not widely known. This book, for the first time, provides a rigorous introduction to heavy-tailed distributions accessible to anyone who knows elementary probability. It tackles and tames the zoo of terminology for models and properties, demystifying topics such as the generalized central limit theorem and regular variation. It tracks the natural emergence of heavy-tailed distributions from a wide variety of general processes, building intuition. And it reveals the controversy surrounding heavy tails to be the result of flawed statistics, then equips readers to identify and estimate with confidence. Over 100 exercises complete this engaging package.

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