In order to calculate the probability of several such extreme events occurring at the same time, scientists have developed a new method.

Two events are independent if the probability of the first event happening has no impact on the probability of the second event happening.

Learn how to calculate Value at Risk (VaR) to effectively assess financial risks in portfolios, using historical, variance-covariance, and Monte Carlo methods.

Any uncertainty in the calculation of the object’s orbit causes variations in the predicted solution. Instead of one precise orbit, the calculation usually gives scientists a cloud of its possible ...