Abstract
AbstractAfter James Bernoulli, the main contributors to probability theory and its applications in the 18th century worked either to solve more intricate problems of games of chance (De Moivre), or to build new probability models (De Moivre, Daniel Bernoulli). Further, some of them used probabilistic arguments to test hypotheses about or to estimate parameters involved in probability models for real life phenomena in the fields of demography, astronomy, and theory of errors. The concept of continuous variables, the tool of generating functions, the normal model approximation to the binomial, and ‘the rational expectation principle’ (in the context of the St. Petersburg Paradox) emerged out of these studies.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
