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A Duo Taming Uncertainty: The Law of Large Numbers and the Central Limit Theorem

In: Money and Mathematics

Author

Listed:
  • Ralf Korn

    (TU Kaiserslautern)

  • Bernd Luderer

    (TU Chemnitz)

Abstract

Probability theory is a young branch of mathematics and was only accepted in Europe as a fully-fledged mathematical subject from the second half of the last century onwards. Conversely, entire branches of the finance and insurance industry would be unthinkable without two of the most prominent results of probability theory—the Law of Large Numbers and the Central Limit Theorem.

Suggested Citation

  • Ralf Korn & Bernd Luderer, 2021. "A Duo Taming Uncertainty: The Law of Large Numbers and the Central Limit Theorem," Springer Texts in Business and Economics, in: Money and Mathematics, chapter 56, pages 225-229, Springer.
  • Handle: RePEc:spr:sptchp:978-3-658-34677-5_56
    DOI: 10.1007/978-3-658-34677-5_56
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