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 ...

Explain why probability is important to statistics and data science. See the relationship between conditional and independent events in a statistical experiment. Calculate the expectation and variance ...

Let $Y_1, \cdots, Y_r$ be independent random variables, each uniformly distributed on $\mathscr{M} = \{1,2, \cdots, M\}$. It is shown that at most $N = 1 + M + \cdots ...

So, a friend of mine was bored one day and came up with this problem on his own (it related closely to some personal circumstances of his own). It intrigued me, but I have not been able to solve it.

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

French mathematician and astronomer, Pierre-Simon Laplace brought forth the first major treatise on probability that combined calculus and probability theory in 1812. A single roll of the dice can be ...

Spacings (that is, the differences between successive order statistics) are useful in various applications in statistics. Many properties of the spacing are known when the spacings are constructed ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

(1) PROF. FRECHET'S "Généralités" represents the first volume only of a treatise which, as a whole, is to form part of the very important "Traité du calcul des probabilités"edited by Prof. Borel. The ...