Bayes' theorem is a formula for calculating the probability of an event. Learn how to calculate Bayes' theorem and see examples.

Joint probability is a statistical measure that calculates the likelihood of two events occurring together and at the same point in time.

We adapt the expectation-maximization algorithm to incorporate unobserved heterogeneity into conditional choice probability (CCP) estimators of dynamic discrete choice problems. The unobserved ...

Nonparametric maximum likelihood estimation of the probability of failing from a particular cause by time t in the presence of other acting causes (i.e., the cause-specific failure probability) is ...

The standard explanation to the Monty Hall probability problem is not only imprecise but also wrong. It turns out the true explanation, based on conditional probabilities or Bayesian reasoning ...