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 ...

Probability, statistics, reliability and decision with applications in engineering. Probability of events, discrete and continuous random variables, probability density functions and distributions, ...

In a number of situations we are faced with the problem of determining efficient estimates of the mean and variance of a distribution specified by (i) a non-zero probability that the variable assumes ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

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 ...

A continuous-time random walk is a simple random walk subordinated to a renewal process used in physics to model anomalous diffusion. In this paper we show that, when the time between renewals has ...