We live in a world where a lot of things seem to happen by pure chance, from winning the Lotto to losing your car keys. But the truth is, the likelihood of many everyday things happening is heavily ...
Chris Wiggins, an associate professor of applied mathematics at Columbia University, offers this explanation. A patient goes to see a doctor. The doctor performs a test with 99 percent ...
How likely you think something is to happen depends on what you already believe about the circumstances. That is the simple concept behind Bayes’ rule, an approach to calculating probabilities, first ...
Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...
Nate Silver, baseball statistician turned political analyst, gained a lot of attention during the 2012 United States elections when he successfully predicted the outcome of the presidential vote in ...
Several important multivariate probability inequalities can be formulated in terms of multivariate convolutions of the form ∫ $f_{1}(x)f_{2}(x-\theta )dx$, where ...
Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...
The old adage goes that if you give an infinite number of monkeys an infinite amount of time hitting random keys on a typewriter, one of them will eventually type out the complete works of William ...
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