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, ...

Research of the probability and statistics group includes particle systems, theoretical statistics, non-conventional random walks, random matrix theory, and random polynomials. Research interests also ...

Copulas are functions that enable the construction of multivariate probability distributions by binding together univariate marginal distributions. Central to probability theory, they allow ...

In mathematics and statistics, a probability distribution, more properly called a probability density, assigns to every interval of the real numbers a probability, so that the probability axioms are ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

Risk management involves a three-step procedure: hazard identification, risk assessment, and risk mitigation in case of unacceptable risk levels. In fact, the hazard identification process should ...

In A Philosophical Essay on Probabilities, published in 1814, Pierre-Simon Laplace introduced a notorious hypothetical creature: a “vast intelligence” that knew the complete physical state of the ...

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