Learn to apply Bayes' theorem in financial forecasting for insightful, updated predictions. Enhance decision-making with ...

Discover how the Dutch Book Theorem reveals profit opportunities in betting and finance when probabilities are misjudged.

Humans respond to environments that change at many different speeds. A video game player, for example, reacts to on-screen ...

This article presents an application for failure probability in long-pipeline gas systems through the development of trend curves over time for the attributes of corrosion wear, which are related to ...

Implied probability is a concept that has a huge impact on how you judge the value of a bet. It’s something that you often hear about, but most bettors don’t stop to properly unpack this concept. In ...

The mean, also known as the expected value, of a discrete probability distribution is a fundamental concept in statistics and probability theory. It represents the average outcome you would expect if ...

The orbit of 2024 YR4 will take it close to Earth, but scientists have found the chance of a collision to be exceedingly low. Credit:NASA/JPL. I was preparing for my early morning class back in ...

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Toshi Hirabayashi, Georgia Institute of Technology (THE CONVERSATION) I was preparing ...