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Methods and applications of statistics in business, finance, and management science. (English) Zbl 1215.62122

Wiley Series in Methods and Applications of Statistics. Hoboken, NJ: John Wiley & Sons (ISBN 978-0-470-40510-9/hbk). xxi, 711 p. (2010).

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The collection and analysis of quantitative data is a prerequisite for reaching meaningful conclusions and making realistic decisions in today’s business world. As a result, it is essential for individuals working in this environment to have the knowledge and skills to use statistical techniques in various scenarios and interpret their results. Combining well-known and established methods with the latest research in the field, this book provides a compilation which explores classic methodology and new topics. Within 54 chapters, several methods and techniques are covered, including uses of the Black-Scholes formula in finance, analytical methods for risk management, statistical modelling in inventory effects and analysis, auditing, banking, finance, marketing and management science, etc.
In addition, the book provides insights on common uses of statistical techniques such as Bayesian methods, optimisation, simulation, forecasting, mathematical modelling, financial time series, and data mining in modern research. Providing a blend of traditional methodology and the latest research, the book may well be used as a reference guide for researchers, managers, consultants and students in the fields of business, management science, operations research, supply chain management, mathematical finance and economics, who must understand the statistical literature and carry out quantitative practices to make smart business decisions in their everyday work.

MSC:

62P20 Applications of statistics to economics
62P05 Applications of statistics to actuarial sciences and financial mathematics
62-06 Proceedings, conferences, collections, etc. pertaining to statistics
91G70 Statistical methods; risk measures
90B50 Management decision making, including multiple objectives
00B15 Collections of articles of miscellaneous specific interest
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