Probability in relation to some theories - for example quantum mechanics -- need not satisfy the Kolmogorov axioms. To illustrate how two theories about the same system can generate quite different ...

In spite of the fact that most financial economists are trained in probability theory, the mathematical terminology can be cryptic and difficult to understand. The financial economist encounters even ...

The theory behind power and sample size calculations is explained using the basic probability concepts that underpin the most frequently used statistical significance tests.

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 ...

Explain why probability is important to statistics and data science. See the relationship between conditional and independent events in a statistical experiment. Calculate the expectation and variance ...

The world is full of uncertainty: accidents, storms, unruly financial markets, noisy communications. The world is also full of data. Build foundational knowledge of data science with this introduction ...

Including Basic Probability Concepts, Random Variables, Selected Probability Distributions, Modes of Convergence, Properties of Estimators, Frequentist Hypothesis Testing and Bayesian Inference. Part ...

By learning a few key concepts in arithmetic, algebra, probability theory, and compound interest, you can gain the confidence to make informed investment decisions and grow your wealth.