Learn how to calculate Value at Risk (VaR) to effectively assess financial risks in portfolios, using historical, variance-covariance, and Monte Carlo methods.

Herbert Robbins, David Siegmund, Boundary Crossing Probabilities for the Wiener Process and Sample Sums, The Annals of Mathematical Statistics, Vol. 41, No. 5 (Oct., 1970), pp. 1410-1429 ...

In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...