George Pólya’s random walk theorem absolved him of being a lurker and revealed how the laws of chance interact with physical ...

Bayes' theorem is a statistical formula used to calculate conditional probability. Learn how it works, how to calculate it ...

The probability distribution of a random variable, often denoted as x, is simply called a distribution, a cornerstone concept in probability theory and statistics. It provides a complete description ...

Abstract: In probability theory, variance is a device to measure dispersion of random variable from its mean. In order to explain complex uncertain random variable,variance and pseudo-variance are ...

Abstract: Moments of continuous random variables admitting a probability density function are studied. We show that, under certain assumptions, the moments of a random variable can be characterized in ...

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 ...

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 ...