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 ...

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 ...

The beauty of Statistics is that if you can take a large enough group of people, you can predict really well what the outcome will be overall Our research works across the fields of probability, ...

Many people mix up odds and probability at casino tables. These words sound the same but mean different things. Knowing both ...

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

Probability is a measure of the likelihood of events happening. The greater the proportion of times an event can happen the greater (or more likely) the probability. Events can be ordered by the ...

Recently, as we were studying probability in my Statistics class, a student asked me about the use of probability in math and economics. Actually “where will we ever use this?” might be a better way ...