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 ...

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 ...

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 ...

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

The sample space diagram shows there are 6 ways of making a 7, out of a total of 36 possible outcomes. Therefore, the probability of rolling two dice and the sum being 7 is \(\frac{6}{36} = \frac{1}{6 ...

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 ...

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 ...