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In physics, statistical mechanics is a mathematical framework that applies statistical methods and probability theory to large assemblies of microscopic entities. Sometimes called statistical physics or statistical thermodynamics, its applications include many problems in the fields of physics, biology, chemistry, neuroscience, computer science, information theory and sociology. Its main purpose is to clarify the properties of matter in aggregate, in terms of physical laws governing atomic motion.
Operations research, often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. The term management science is occasionally used as a synonym.
An academic discipline or field of study is a branch of knowledge, taught and researched as part of higher education. A scholar's discipline is commonly defined by the university faculties and learned societies to which they belong and the academic journals in which they publish research.
Stochastic is the property of being well-described by a random probability distribution. Stochasticity and randomness are technically distinct concepts: the former refers to a modeling approach, while the latter describes phenomena; in everyday conversation, however, these terms are often used interchangeably. In probability theory, the formal concept of a stochastic process is also referred to as a random process.
Peter Whittle was a mathematician and statistician from New Zealand, working in the fields of stochastic nets, optimal control, time series analysis, stochastic optimisation and stochastic dynamics. From 1967 to 1994, he was the Churchill Professor of Mathematics for Operational Research at the University of Cambridge.
The Applied Probability Trust is a UK-based non-profit foundation for study and research in the mathematical sciences, founded in 1964 and based in the School of Mathematics and Statistics at the University of Sheffield, which it has been affiliated with since 1964.
Lajos Takács was a Hungarian mathematician, known for his contributions to probability theory and in particular, queueing theory. He wrote over two hundred scientific papers and six books.
Samuel Karlin was an American mathematician at Stanford University in the late 20th century.
Applied mathematics is the application of mathematical methods by different fields such as physics, engineering, medicine, biology, finance, business, computer science, and industry. Thus, applied mathematics is a combination of mathematical science and specialized knowledge. The term "applied mathematics" also describes the professional specialty in which mathematicians work on practical problems by formulating and studying mathematical models.
Quantitative analysis is the use of mathematical and statistical methods in finance and investment management. Those working in the field are quantitative analysts (quants). Quants tend to specialize in specific areas which may include derivative structuring or pricing, risk management, investment management and other related finance occupations. The occupation is similar to those in industrial mathematics in other industries. The process usually consists of searching vast databases for patterns, such as correlations among liquid assets or price-movement patterns.
András Prékopa was a Hungarian mathematician, a member of the Hungarian Academy of Sciences. He was one of the pioneers of stochastic programming and has been a major contributor to its literature. He amended one of the three basic model types of the discipline, chance-constrained programming, by taking into account stochastic dependence among the random variables involved. One of his main results in the area concerns the convexity theory of probabilistically constrained stochastic optimization problems. He introduced the concept of logarithmic concave measures and provided several fundamental theorems on logconcavity, which supplied proofs for the convexity of a wide class of probabilistically constrained stochastic programming problems. These results had impact far beyond the area of mathematical programming, as they found applications in physics, economics, statistics, convex geometry and other fields.
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling in the financial field.
In queueing theory, a discipline within the mathematical theory of probability, a fluid queue is a mathematical model used to describe the fluid level in a reservoir subject to randomly determined periods of filling and emptying. The term dam theory was used in earlier literature for these models. The model has been used to approximate discrete models, model the spread of wildfires, in ruin theory and to model high speed data networks. The model applies the leaky bucket algorithm to a stochastic source.
Cyrus Derman was an American mathematician and amateur musician who did research in Markov decision process, stochastic processes, operations research, statistics and a variety of other fields.
Jacobus (Jaap) Wessels was a Dutch mathematician and Professor of Stochastic Operations Research at the Eindhoven University of Technology, known for his contributions in the field of Markov decision processes.
Asaf Hajiyev is the Secretary-General of the Parliamentary Assembly of the Black Sea Economic Cooperation, Former Member of National Assembly of the Republic of Azerbaijan, Doctor of Physical and Mathematical Sciences, Professor, Academician, Chair of Probability Theory and Mathematical Statistics in BSU.
References
- ↑ Heyde, Chris (1995). "A Conversation with Joe Gani" (PDF). Statistical Science . 10 (2): 214–230.