Ec4024 Lecture 4
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This document provides an overview of the topics that will be covered in Lecture 4 of the course EC4024 Probability & Statistics in Finance. The lecture will define probability and statistics, explain why they are used in finance, and provide examples of measuring risk and uncertainty. It will also include mini presentations on risk and uncertainty as well as probability distributions and the law of large numbers. Students are instructed to read the assigned materials and complete any exercises.
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this measure: i.e. each individual prefers highly attractive partners and all individuals
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homotypic with respect to the second measure, referred to as "character" i.e.
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Such a problem may be interpreted as e.g. a job search problem in which the classes
are employer and employee, or a mate choice problem in which the classes are male and
female.
It is assumed that
attractiveness is easy to measure and observable with certainty. However,
in order to observe the character of an individual, an interview (or courtship) is required.
Hence, on observing the attractiveness of a prospective partner an individual must decide whether he/she wishes
to proceed to the interview stage. Interviews only occur by mutual consent. A pair can only be formed
after an interview. During the interview phase the prospective pair
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character, and then decide whether they wish to form a pair.
It is assumed that mutual acceptance is required for pair formation to
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This paper
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More from Stephen Kinsella (20)
Stock Flow Consistent Models and Agent Based Models
Stock Flow Consistent Models and Agent Based Models
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Aim of the Study: The goal of this research was to develop a robust hybrid approach for identifying malicious and insecure URLs derived from QR codes, ensuring safe interactions.
This is achieved through:
Machine Learning Model: Predicts the likelihood of a URL being malicious.
Security Validation Functions: Ensures the derived URL has a valid certificate and proper URL format.
This innovative blend of technology aims to enhance cybersecurity measures and protect users from potential threats hidden within QR codes 🖥 🔒
This study was my first introduction to using ML which has shown me the immense potential of ML in creating more secure digital environments!
"Scaling RAG Applications to serve millions of users", Kevin Goedecke
How we managed to grow and scale a RAG application from zero to thousands of users in 7 months. Lessons from technical challenges around managing high load for LLMs, RAGs and Vector databases.
QA or the Highway - Component Testing: Bridging the gap between frontend appl...
These are the slides for the presentation, "Component Testing: Bridging the gap between frontend applications" that was presented at QA or the Highway 2024 in Columbus, OH by Zachary Hamm.
"Choosing proper type of scaling", Olena Syrota
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
Discover the Unseen: Tailored Recommendation of Unwatched Content
The session shares how JioCinema approaches ""watch discounting."" This capability ensures that if a user watched a certain amount of a show/movie, the platform no longer recommends that particular content to the user. Flawless operation of this feature promotes the discover of new content, improving the overall user experience.
JioCinema is an Indian over-the-top media streaming service owned by Viacom18.
Introducing BoxLang : A new JVM language for productivity and modularity!
Just like life, our code must adapt to the ever changing world we live in. From one day coding for the web, to the next for our tablets or APIs or for running serverless applications. Multi-runtime development is the future of coding, the future is to be dynamic. Let us introduce you to BoxLang.
Dynamic. Modular. Productive.
BoxLang redefines development with its dynamic nature, empowering developers to craft expressive and functional code effortlessly. Its modular architecture prioritizes flexibility, allowing for seamless integration into existing ecosystems.
Interoperability at its Core
With 100% interoperability with Java, BoxLang seamlessly bridges the gap between traditional and modern development paradigms, unlocking new possibilities for innovation and collaboration.
Multi-Runtime
From the tiny 2m operating system binary to running on our pure Java web server, CommandBox, Jakarta EE, AWS Lambda, Microsoft Functions, Web Assembly, Android and more. BoxLang has been designed to enhance and adapt according to it's runnable runtime.
The Fusion of Modernity and Tradition
Experience the fusion of modern features inspired by CFML, Node, Ruby, Kotlin, Java, and Clojure, combined with the familiarity of Java bytecode compilation, making BoxLang a language of choice for forward-thinking developers.
Empowering Transition with Transpiler Support
Transitioning from CFML to BoxLang is seamless with our JIT transpiler, facilitating smooth migration and preserving existing code investments.
Unlocking Creativity with IDE Tools
Unleash your creativity with powerful IDE tools tailored for BoxLang, providing an intuitive development experience and streamlining your workflow. Join us as we embark on a journey to redefine JVM development. Welcome to the era of BoxLang.
inQuba Webinar Mastering Customer Journey Management with Dr Graham Hill
HERE IS YOUR WEBINAR CONTENT! 'Mastering Customer Journey Management with Dr. Graham Hill'. We hope you find the webinar recording both insightful and enjoyable.
In this webinar, we explored essential aspects of Customer Journey Management and personalization. Here’s a summary of the key insights and topics discussed:
Key Takeaways:
Understanding the Customer Journey: Dr. Hill emphasized the importance of mapping and understanding the complete customer journey to identify touchpoints and opportunities for improvement.
Personalization Strategies: We discussed how to leverage data and insights to create personalized experiences that resonate with customers.
Technology Integration: Insights were shared on how inQuba’s advanced technology can streamline customer interactions and drive operational efficiency.
The Microsoft 365 Migration Tutorial For Beginner.pptx
This presentation will help you understand the power of Microsoft 365. However, we have mentioned every productivity app included in Office 365. Additionally, we have suggested the migration situation related to Office 365 and how we can help you.
You can also read: https://www.systoolsgroup.com/updates/office-365-tenant-to-tenant-migration-step-by-step-complete-guide/
AI in the Workplace Reskilling, Upskilling, and Future Work.pptx
Discover how AI is transforming the workplace and learn strategies for reskilling and upskilling employees to stay ahead. This comprehensive guide covers the impact of AI on jobs, essential skills for the future, and successful case studies from industry leaders. Embrace AI-driven changes, foster continuous learning, and build a future-ready workforce.
Read More - https://bit.ly/3VKly70
Dandelion Hashtable: beyond billion requests per second on a commodity server
This slide deck presents DLHT, a concurrent in-memory hashtable. Despite efforts to optimize hashtables, that go as far as sacrificing core functionality, state-of-the-art designs still incur multiple memory accesses per request and block request processing in three cases. First, most hashtables block while waiting for data to be retrieved from memory. Second, open-addressing designs, which represent the current state-of-the-art, either cannot free index slots on deletes or must block all requests to do so. Third, index resizes block every request until all objects are copied to the new index. Defying folklore wisdom, DLHT forgoes open-addressing and adopts a fully-featured and memory-aware closed-addressing design based on bounded cache-line-chaining. This design offers lock-free index operations and deletes that free slots instantly, (2) completes most requests with a single memory access, (3) utilizes software prefetching to hide memory latencies, and (4) employs a novel non-blocking and parallel resizing. In a commodity server and a memory-resident workload, DLHT surpasses 1.6B requests per second and provides 3.5x (12x) the throughput of the state-of-the-art closed-addressing (open-addressing) resizable hashtable on Gets (Deletes).
AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)
What is an RPA CoE? Session 1 – CoE Vision
In the first session, we will review the organization's vision and how this has an impact on the COE Structure.
Topics covered:
• The role of a steering committee
• How do the organization’s priorities determine CoE Structure?
Speaker:
Chris Bolin, Senior Intelligent Automation Architect Anika Systems
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Ec4024 Lecture 4
- 1. EC4024 | Probability & Statistics in Finance | Lecture 4
- 2. Today Risk & Uncertainty Define Probability/Statistics Why is it used in Finance? Examples
- 5. Probability It is a measure of how plausible an event is We measure probability using a real number between 0 and 1 (Percentage is clear?) A probability of 0 means an event is impossible Probability of 1 means an event is certain The probabilities of all the events in our sample space add up to 1
- 6. Experiments
- 7. Histograms 80 60 40 20 200 400 600 800
- 8. Law of Large Numbers Handout
- 10. Bored?
- 11. Example: Hold’Em
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