The probability distribution of the number of defaults plays an important role in pricing problems of multiple-name credit derivatives. When the group size gets large, it becomes increasingly ...

We live in a world where a lot of things seem to happen by pure chance, from winning the Lotto to losing your car keys. But the truth is, the likelihood of many everyday things happening is heavily ...

Learn how to calculate hazard rate, its practical implications in engineering and finance, and why it's critical in ...

A clear and exact quantitative relationship between dose of radiation and mortality in humans is still not known because of lack of human data that would enable to determine LD50 for humans in total ...

Stein's method has emerged as a powerful and versatile tool in probability theory for deriving error bounds in distributional approximations. Originally developed to ...

1 Management and Decision Engineering Laboratory (MDE-Lab), Department of Financial and Management Engineering, School of Engineering, University of the Aegean, Chios, Greece 2 School of Economic ...

Core Theories & Axioms Kolmogorov’s Axioms (Foundation of modern probability theory) Classical Probability (Laplace’s Rule of Succession) Frequentist Probability vs. Bayesian Probability Law of Large ...

I. FOUNDATIONS OF PROBABILITY THEORY Probability is the mathematical study of randomness, uncertainty, and stochastic events. Core Theories & Axioms Kolmogorov’s Axioms (Foundation of modern ...

[3] On the computer computation of the'probacent'-probability equation applicable to biomedical-phenomena research: A review of the'probacent'formula ...