Probability has a popular meaning that is not the same as the mathematical meaning. As a small-business owner, you may act on hunches, guesses and instincts. After such actions, you might even say you ...

What happened when a gambler asked for help from a mathematician? The formal study of Probability. Infinite Series is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV ...

Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.

What Is A Probability Density Function? A probability density function, also known as a bell curve, is a fundamental statistics concept, that describes the likelihood of a continuous random variable ...

Phrases such as ``just in case'' and ``not even one in a million'' are used casually, but in English the phrase ` `a million chance' ' is often used to mean the same thing. The Statistics Bureau of ...

In A Philosophical Essay on Probabilities, published in 1814, Pierre-Simon Laplace introduced a notorious hypothetical creature: a “vast intelligence” that knew the complete physical state of the ...

JEFF: How likely is it that Putter will make this shot, Janine? JANINE: The probability? Well, he needs to get his shot past that Pineapple Windmill. JEFF: The windmill with 6 segments? JANINE: That’s ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...

Two very different strategies can help retirees’ retirement savings last their lifetime, and the one that works for you, or even a hybrid plan, may depend on your tolerance for risk. Let’s look at ...