We elaborate on an alternative representation of conditional probability to the usual tree diagram. We term the representation “turtleback diagram” for its resemblance to the pattern on turtle shells.

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 ...

Two events are independent if the probability of the first event happening has no impact on the probability of the second event happening. For example, the probability of rolling a 6 on a die will not ...

Venn diagrams can be useful for organising information about frequencies and probabilities, which can then be used to solve conditional probability problems. 90 pupils were asked whether they owned a ...

Bayesian analysis is one of the topics included in the subject "Environmental Risk Analysis" taught at the Faculty of Agronomy of the University of Buenos Aires, Argentina. Traditionally, we use a ...

In the previous lessons and labs, you learned about some fundamentals of probability theory, along with basic combinatorics such as permutations and combinations. You'll now extend your knowledge of ...

In decision modeling with influence diagrams, the most challenging task is probability elicitation from domain experts. It is usually very difficult for experts to directly assign precise ...