Probability has a popular meaning that is not the same as the mathematical meaning. As a small-business owner, you may act on hunches, guesses and instincts. After such actions, you might even say you ...

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 ...

The probability in weather forecasts leaves many people perplexed on if, or when, they should continue with plans, cancel or delay. As summer ramps up across North America, millions of travelers, ...

This applet allows the user to select the probability of heads and the number of tosses. By clicking the "TOSS" button, the applet shows the process of tossing coins virtually and calculates the ...

The relationship between probability theory and fuzzy logic has long been an object of discussion and some controversy. The position articulated in this article is that probability theory by itself is ...

The iron rule of probability that you need to remember here is - chance has no memory. This means that, in activities largely involving luck, past outcomes have no effect on the current outcome.