The main property of a discrete joint probability distribution can be stated as the sum of all non-zero probabilities is 1. The next line shows this as a formula. The marginal distribution of X can be ...

Abstract: This paper derives a new type of formula for the probability that, among a collection of items with s-independent exponential times to failure, a certain subset of them fails in a given ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Suzanne is a content marketer, writer, and fact-checker.

The binomial distribution is a key concept in probability that models situations where you repeat the same experiment several times, and each time there are only two possible outcomes—success or ...

A continuous random variable is a type of variable that can take on any value within a given range. Unlike discrete random variables, which have a countable number of outcomes, continuous random ...

What does the protein content in cows' milk have in common with human IQ? Both variables have approximately normal distributions. The normal distribution is a good model for measurements of many kinds ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...