Objective probability is the probability that an event will occur based on an analysis in which each measurement is based on a recorded observation.

The probability and impact matrix is versatile and widely applicable across various industries and projects. For example, in software development, it might be used to manage risks related to ...

In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...