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 ...

When we have a situation where we are considering several events, it is beneficial to have a way of representing it visually. Tree diagrams are visual representations of the outcomes of events. Robin ...

Venn diagrams can be useful for organising information about frequencies and probabilities, which can then be used to solve conditional probability problems. 90 pupils were asked whether they owned a ...

A tree diagram is helpful for working with event intersections and conditional probabilities. A tree consists of nodes and branches representing different stages in an experiment. Tree 1 shows an ...