It's been a long time since I scraped through my probability and stats class in college... There is a time-killing dice game a friend (seems to have) invented: You start with a pool 10 6-sided ...

It is a question on the minds of so many people who are planning for retirement: Will I run out of money? We can take into account all of the income a person expects in retirement as well as their ...

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Toshi Hirabayashi, Georgia Institute of Technology (THE CONVERSATION) I was preparing ...

Classical probability theory assumes an equal likelihood for all outcomes. For example, if you were to flip a coin, there's an equal change of it landing on "heads" or "tails." Microsoft Excel offers ...

A common question that arises when considering the results from a well-designed sampling programme for a rare or invasive species is: 'Sampling has failed to detect a species that could have been ...

It had to happen: the property bubble burst and the global financial market experienced its biggest crisis in the last hundred years. In retrospect, many suspected it was coming, but nobody could have ...

It’s important in trading to have a good understanding of probability, or at least not have misconceptions about probability. While the Forex market and other financial markets move based on supply ...