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 ...

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 ...

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 ...

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 ...

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 ...

The course is concerned with behavior of random walks on certain infinite graphs which are currently in vigorous development. This is a topic of discrete probability and full of surprising and ...

Abstract: We introduce spatiotemporal relational probability trees (SRPTs), probability estimation trees for relational data that can vary in both space and time. The SRPT algorithm addresses the ...

The set of rooted trees, generated by random bifurcation at the terminal nodes, is considered with the aims of enumerating it and of determining its probability distribution. The account of ...

Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...