The first step is to ensure that the given distribution actually is a valid probability distribution. As mentioned earlier, ...

Fuzzy statistics and random variables represent a progressive fusion of traditional probability theory with the principles of fuzzy logic, enabling the treatment of imprecision and vagueness inherent ...

Statistical packages have been used for decades to analyze large datasets or to perform mathematically intractable statistical methods. These packages are not capable of working with random variables ...

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 ...