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 discrete random variable is a type of random variable that can take on a countable set of distinct values. Common examples include the number of children in a family, the outcome of rolling a die, ...

Chance and uncertainty play a role in many aspects of life. A solid understanding of probability enhances critical thinking and empowers us to make well-informed decisions in everyday situations such ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

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 ...

Probability Distribution Notes: Probability is a fundamental aspect of mathematics that helps us understand and quantify uncertainty. Mastery of this subject is essential for students, as it has ...

Abstract: Consider a system comprising sensors that communicate with a remote estimator by way of a so-called collision channel. Each sensor observes a discrete random variable and must decide whether ...

Basic probability; Discrete random variables, examples (e.g. Bernoulli, binomial, geometric), expected values, variances; Markov chains and their properties ...

Cumulative probability is an essential concept in the world of statistics and probability theory. It refers to the likelihood that a random variable will take a value equal to or less than a specific ...