A common question that arises when considering the results from a well-designed sampling programme for a rare or invasive species is: 'Sampling has failed to detect a species that could have been ...

I was preparing for my early morning class back in January 2025 when I received a notice regarding an asteroid called 2024 YR4. It said the probability it could hit Earth was unusually high. As ...

It is a question on the minds of so many people who are planning for retirement: Will I run out of money? We can take into account all of the income a person expects in retirement as well as their ...

It had to happen: the property bubble burst and the global financial market experienced its biggest crisis in the last hundred years. In retrospect, many suspected it was coming, but nobody could have ...

Classical probability theory assumes an equal likelihood for all outcomes. For example, if you were to flip a coin, there's an equal change of it landing on "heads" or "tails." Microsoft Excel offers ...

Venn diagrams are used to sort sets of data. The probability of an event not happening uses the complement of the region on the Venn diagram. Count the number of elements in each region. Redraw the ...

It’s important in trading to have a good understanding of probability, or at least not have misconceptions about probability. While the Forex market and other financial markets move based on supply ...

Parsimony methods are often used to map a character's evolution on a phylogenetic tree by reconstructing the ancestral states at interior nodes of the tree. Although the statistical behavior of ...