Probability Models A Study Guide for Exam P eBook Alexander Solla
Download As PDF : Probability Models A Study Guide for Exam P eBook Alexander Solla 
New edition for 2017! Probability Models is exactly what you need to pass the Society of Actuaries' Exam P. It is more than just a study guide. It is a textbook covering the entire syllabus, and includes illuminating examples, 123 instructive problems, with complete solutions, and a challenging, realistic practice exam, so you can be confident that you have mastered the exam syllabus.
Probability Models also includes a special bonus chapter on probability models for insurance.
Probability Models was written by Alexander Solla, a trusted writer and educator whose books, Financial Mathematics and Financial Economics have helped hundreds of actuarial students pass their exams.
Are you ready to pass Exam P? Don't wait another minute. Get Probability Models today.
Probability Models A Study Guide for Exam P eBook Alexander Solla
For those wanting to learn about probability in general or to study for a specific exam, there are plenty of resources that can be found either in books or online. What is generally lacking, however, are works with a large number of practice exercises that the student can work on in order to perfect their learning. While the theory part of this book is well comparable to that of other books, the great strength of this book is its large number of worked out exercises and explanations. Getting this many fully worked out problems in other books could easily cost 10x or more what is paid for here, making this book an excellent value proposition. The explanations and problems cover all fundamental aspects of probability and serve as a solid addition to the working library of the statistician, mathematician or engineer. One criticism could be at times its inconsistent level, in that sometimes it dwells too long on comparatively trivial maters while moving too quickly over more challenging ones, but this is not an epidemic problem and does not take away from the overall worth of this work.Product details
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Probability Models A Study Guide for Exam P eBook Alexander Solla Reviews
The book is fatally flawed because of typos and mathematical errors in the problems and solutions, sometimes more than one error per problem. As an example, in exercise #5 in section 3.6, the problem gives a certain function as c(1-x), but the solution uses the function c(6-x) instead. Even after I realized this, my answer didn't match the book's answer. Going back through the author's solution, I found a step in which 17.5 / 9 = 2, which explained why my answer was off by 1/18 from the book's answer.
This is a shame, because the organization of the subject matter, the explanation of concepts, and the examples used to illustrate them are all excellent, especially when compared with the ASM guide that I began using but set aside because of its poor exposition of the subject matter. However, all the advice I've gotten regarding studying for these exams emphasizes working problems, so all the positives can only bring the book up to two stars. The strength of the competing ASM guide is that it has 20 full length practice exams. My plan now is to work ASM problems while using Solla as reference material. (I'm less than thrilled that I've bought two expensive but only semi-useful study guides in order to get one good one. I suppose I might infer that E(USG)=.5, where USG is a continuously distributed random variable between 0 and 1 which represents the usefulness of Exam P study guides that I've bought.
This book would be wonderful if accompanied by an errata document, but I was unable to locate one.
The book has a lot of great information and is very helpful. The only downfall is, there is a lot of typos! For example I am on page 49 right now learning about discrete random variables
Definition 3.6. A random variable X is a discretediscrete random variable...
There have been a couple of typos in the solutions to the exercises and in the exercises alone making them seem impossible.
The author should be ashamed of himself. This book is riddled with errors. I had to stop and couldn't continue. Error after error after error in the explanations for the sample questions. I want my money back!!
Simple, to the point and no fluff. This is just exactly what one would want from a study guide. Great job and it has helped me quite a bit.
This study guide was an absolute lifesaver for my introduction to statistics class!! As a finance major, the concept of probability is one of the most important skills I need to have mastered for my upper division classes, as well as for my career in the financial sector. The book has great explanations and is laid out very nicely. Some of the problems are pretty hard, but the solutions were very instructive. Because of all the practice problems, I was able to ace my 60 question statistics final. It also helped me understand Bayes theorem better and gave me insight on how to construct probability models from random variables. The study guide is a great value and I recommend all finance majors should try using this study guide.
This study guide has been a life saver! This book did a great job preparing me for the exam. It was easy to understand, concise, and made studying a breeze. The book is laid out with clear details and sample questions which allowed me to efficiently learn and practice the material simultaneously. The guide covers a LOT of material, and although statistics by nature is dry, this study guide was honestly not boring and was extremely informative. I have gained a better understanding of statistics as a whole and actually learned some things that I had never understood in high level college statistic courses. If you are seeking a study guide that will speedily help you understand the test, this book will do the trick.
This book kind of makes me mad. At first, it seemed very helpful. It has lessons, proofs, formulas, exercises, and even a practice exam. What I don't like about it is that it is riddled with mistakes.
For instance, when I look at the solution to a couple of problems, there are numbers that the author pulled out of thin air. He never communicated the numbers to us that were necessary to solve the problem. Other times, the numbers he uses to solve the problems are not the same ones he told us to use. Another time, he uses the incorrect formula for correlation. He divides by the variances instead of the standard deviations. And lastly, whenever he has to solve e^x, he always takes the log of both sides. This has to be done a certain way, or the easier way is to take the natural log of both sides. We never end up with the same answer in these cases.
These may sound like petty complaints, but when you have no idea how to solve a problem, sometimes looking at the step-by-step solution is the only way to start seeing things clearly. When you know part of the solution is wrong, it is hard to trust the rest of it. I will not be purchasing another study guide from this author.
For those wanting to learn about probability in general or to study for a specific exam, there are plenty of resources that can be found either in books or online. What is generally lacking, however, are works with a large number of practice exercises that the student can work on in order to perfect their learning. While the theory part of this book is well comparable to that of other books, the great strength of this book is its large number of worked out exercises and explanations. Getting this many fully worked out problems in other books could easily cost 10x or more what is paid for here, making this book an excellent value proposition. The explanations and problems cover all fundamental aspects of probability and serve as a solid addition to the working library of the statistician, mathematician or engineer. One criticism could be at times its inconsistent level, in that sometimes it dwells too long on comparatively trivial maters while moving too quickly over more challenging ones, but this is not an epidemic problem and does not take away from the overall worth of this work.
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