Mathematicians rely on numbers, but finding words to explain different levels of certainty has stymied everyone from the ...

Randall Morck of the Alberta School of Business says economists too often regard people as "dynamic, stochastic optimization ...

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 ...

In statistics, a population refers to the entire group of individuals or items that we are interested in studying. However, collecting data from the whole population is often impractical due to size, ...

A discrete random variable is a type of random variable that can take on a countable set of distinct values. Common examples include the number of children in a family, the outcome of rolling a die, ...

Tabletop games, from the roll of a die in a fantasy role-playing game (RPG) to the strategic placement of cards in a complex board game, are deeply rooted in probability. The comprehension of the ...

† Institute of Life and Health Engineering, Key Laboratory of Functional Protein Research of Guangdong Higher Education Institutes, Jinan University, Guangzhou 510632, China ‡ School of Mathematics ...

In this paper, we consider the function f p ( t )= 2p X 2 ( 2p t+p;p ) , where χ²(x; n) defined by X 2 ( x;p )= 2 −p/2 Γ( p/2 ) e −x/2 x p/2−1 , is the density function of a χ²-distribution with n ...

Here is a table of the values for the cumulative distribution function of the standard normal distribution. These will be used to approximated binomial random variables. Here is another table with ...

Future events are far from certain in the business world. This is especially true for smaller businesses, which tend to have more volatility than larger organizations, or newer businesses without a ...