Take two events A and B. For example, let A be the event “Receive a score of 95% on the econometrics exam” and let B be the event “Study econometrics 12 hours a day”. We might be interested in the ...

Quantum versions of Bayes’ rule have been around for decades, but the approach through the minimum change principle had not ...

Author: Chris Boucher (March 2011). This app displays an intricate Venn diagram, containing various combinations of set intersections, unions and complements. Users can shade the area they choose by ...

Gerolamo Cardano (1501-1576) wrote the first recorded definition of probability. Mlodinow (2009) paraphrased a modernized definition of probability from Cardano's work, Book on Games of Chance: ...

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 ...

Sometimes in life we want to know the probability of many things happening, not just one. Sarah has a bag containing 4 red balls and 5 green balls (9 balls in total). If she were to select a ball at ...