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 ...

This course is available on the MSc in Risk and Stochastics, MSc in Statistics (Financial Statistics) and MSc in Statistics (Financial Statistics) (Research). This course is available with permission ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...

Probability is a measure of the likelihood of events happening. The greater the proportion of times an event can happen the greater (or more likely) the probability. Events can be ordered by the ...

The outcomes of rolling a six-sided die are: 1, 2, 3, 4, 5, 6. A probability of zero means an outcome is impossible. A probability of 1 means an outcome is certain ...

Introduction Have you ever heard anyone say the chance of something happening is “50–50”? What does that actually mean? This phrase has something to do with probability. Probability tells you how ...

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 ...