Probability theory forms the mathematical backbone for quantifying uncertainty and random events, providing a rigorous language with which to describe both everyday phenomena and complex scientific ...

In many experimental observation systems where the goal is to record a three-dimensional observation of an object, or a set of objects, a lower-dimensional projection of the intended subject is ...

In this paper a two-person red-and-black game is investigated. We suppose that, at every stage of the game, player I's win probability, f, is a function of the ratio of his bet to the sum of both ...

The conjunction and disjunction fallacies are famous for revealing the limits of human reasoning about probability. This can be measured by telling people a short story about a character and then ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Probability theory is the mathematical study of phenomena characterized by randomness or uncertainty. More precisely, probability is used for modelling situations when the result of an experiment, ...

This course is available on the MSc in Risk and Stochastics, MSc in Statistics (Financial Statistics) and MSc in Statistics (Financial Statistics) (Research). This course is available with permission ...