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What does mutual information (MI) convey? Looking for good reference books on information theory

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You seem to be asking a lot of questions on Information Theory. Please can I just recommend some books I've found very helpful rather than try to regurgitate what they say:

(in order of historical importance)

  1. "Concepts in Statistical Mechanics" - Arthur Hobson
  2. "The Mathematical Theory of Communication" - Claude E. Shannon & Warren Weaver
  3. "The Uncertain Reasoner's Companion" - J. B. Paris
  4. "Elements of Information Theory" - Thomas M. Cover & Joy A. Thomas
  5. "Information Theory" - Robert B. Ash
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