Joint probability is a statistical measure that calculates the likelihood of two events occurring together and at the same point in time.

The multinomial distribution is a type of probability distribution used in finance to determine the likelihood of a certain set of outcomes.

In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...

Stephen C. Hora, Probability Judgments for Continuous Quantities: Linear Combinations and Calibration, Management Science, Vol. 50, No. 5 (May, 2004), pp. 597-604 ...