The Mathematics of Banking and Finance / Edition 1

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Throughout banking, mathematical techniques are used. Some of these are within software products or models; mathematicians use others to analyse data. The current literature on the subject is either very basic or very advanced.

The Mathematics of Banking offers an intermediate guide to the various techniques used in the industry, and a consideration of how each one should be approached. Written in a practical style, it will enable readers to quickly appreciate the purpose of the techniques and, through illustrations, see how they can be applied in practice. Coverage is extensive and includes techniques such as VaR analysis, Monte Carlo simulation, extreme value theory, variance and many others.

  • A practical review of mathematical techniques needed in banking which does not expect a high level of mathematical competence from the reader
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Product Details

  • ISBN-13: 9780470014899
  • Publisher: Wiley
  • Publication date: 5/26/2006
  • Series: Wiley Finance Series, #329
  • Edition number: 1
  • Pages: 310
  • Product dimensions: 6.81 (w) x 9.98 (h) x 0.98 (d)

Meet the Author

DENNIS COX is CEO of Risk Reward Limited, a Strategy andRisk Consultancy for the financial services industry, as well asbeing a director of a number of other companies. He was formerlyDirector, Risk Management at HSBC Operational Risk Consultancy andGlobal Risk Director at Prudential Portfolio Managers Limited,having spent 12 years in practice with Arthur Young and BDO BinderHamlyn. Among a range of external interests he is a senior Councilmember of the ICAEW, a member of the Professional Standards Board,Chairman of the Financial Planning Committee of the London Societyand a member of the Money Laundering Committee; together with beingthe Chairman of the Risk Forum for the Securities and InvestmentsInstitute. He also represents the public interest in the regulationof the Institute of Actuaries for financial service matters.

MICHAEL COX has spent 25 years teaching quantitativemethods to a wide variety of undergraduate students in departmentsranging from agriculture, engineering, history, economics, businessand medicine. For over 20 years he has taught both statistics andmanagement science to MBA students.
During his career he has published some 50 referred papers in suchdiverse areas as statistical process control, total qualitymanagement, multidimensional scaling and the analytical hierarchyprocess. In addition Michael has co-authored two text books anddeveloped a major piece of software.
Michael works in applicable mathematics, the solution of real worldproblems employing statistical and management science techniques.Most of this research has included computer applications.

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Table of Contents


1 Introduction to How to Display Data and the ScatterPlot.

2 Bar Charts.

3 Histograms.

4 Probability Theory.

5 Standard Terms in Statistics.

6 Sampling.

7 Probability Distribution Functions.

8 Normal Distribution. 

9 Comparison of the Means, Sample Sizes and HypothesisTesting.

10 Comparison of Variances.

11 Chi-squared Goodness of Fit Test.

12 Analysis of Paired Data.

13 Linear Regression.

14 Analysis of Variance.

15 Design and Approach to the Analysis of Data.

16 Linear Programming: Graphical Method.

17 Linear Programming: Simplex Method.

18 Transport Problems.

19 Dynamic Programming.

20 Decision Theory.

21 Inventory and Stock Control.

22 Simulation: Monte Carlo Methods.

23 Reliability: Obsolescence.

24 Project Evaluation.

25 Risk and Uncertainty.

26 Time Series Analysis.

27 Reliability.

28 Value at Risk.

29 Sensitivity Analysis.

30 Scenario Analysis.

31 An Introduction to Neural Networks.

Appendix Mathematical Symbols and Notation.


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