Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.

Numbers and sports go hand in hand. Watch any live broadcast and you will see and hear commentators and pundits talking about ...

Understanding the probability of default in bonds helps investors assess credit risk and make more informed fixed-income investment decisions. (Image: Pixabay) In the nation's rapidly evolving debt ...

LANSING, Mich. (WLNS) — Probability of precipitation (PoPs) is one of the most common elements of a forecast you see on websites and weather apps, including our own StormTracker6 weather app and WLNS ...

The course provides a precise and accurate treatment of probability, distribution theory and statistical inference. As such there will be a strong emphasis on mathematical statistics as important ...

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 ...

Large language models (LLMs) have gained significant attention in recent years, but understanding their capabilities and limitations remains a challenge. Researchers are trying to develop ...

When is it appropriate to completely reinvent the wheel? To an outsider, that seems to happen a lot in category theory, and probability theory isn’t spared from this treatment. We’ve had a useful ...