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 ...

Many people mix up odds and probability at casino tables. These words sound the same but mean different things. Knowing both helps you play smarter. The math behind them changes how much you win and ...

The basic principle of probability applies to a near infinite parade of situations. Basically, analysts use probability as a means of determining the likelihood of outcomes and occurrences given a ...

Seeing Theory is a beautiful website that graphically illustrates fundamental concepts in statistics. The site was created by Daniel Kunin, who at the time was a senior at Brown University. The site ...

A key central tenet of decision theory is that decomposing an uncertain event into sub-events should not change the overall probability assigned to that uncertain event. As we show, both quantum ...