For any event that has multiple outcomes with different probabilities, it can be helpful and illustrative to construct a chart or diagram of the possible outcomes. Tree diagrams are a useful example ...

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 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

To calculate the probability of an event, the total number of possible outcomes is often required. For simple situations, making a list or completing a sample space diagram is enough but in more ...

A third order upper bound is presented on the probability of the union of a finite number of events, by means of graphs called cherry trees. These are graphs that we construct recursively in such a ...

Two events are independent if the probability of the first event happening has no impact on the probability of the second event happening. If the probability of one event happening affects the ...

Applicable Analysis and Discrete Mathematics, Vol. 10, No. 2 (October 2016), pp. 408-446 (39 pages) An associative Boolean tree is a plane rooted tree whose internal nodes are labelled by AND or OR ...

A new study shows how students can better understand and interpret conditional probabilities. A new LMU study shows how students can better understand and interpret conditional probabilities. How ...