The Virginia Lottery offers a game called the New Year's Millionaire Raffle for which the top prize is one million dollars. There are 375,000 tickets sold, of which 508 are winners. There are three ...

The probability density function of a uniform random variable looks like a horizontal line segment over the support. This indicates that for any interval of a given length within the support, the ...

A courseware module that covers the fundamental concepts in probability theory and their implications in data science. Topics include probability, random variables, and Bayes' Theorem.

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

A new proof, based on the duality theorem of linear programming, is given of a theorem of V. Strassen, which states essentially that the minimum distance between random variables with given ...

This course is compulsory on the BSc in Mathematics, Statistics and Business. This course is available on the BSc in Data Science, BSc in Mathematics with Data Science, Erasmus Reciprocal Programme of ...

The Annals of Mathematical Statistics, Vol. 43, No. 5 (Oct., 1972), pp. 1719-1726 (8 pages) Let {Xn, n ≥ 1} be a sequence of random variables such that for suitably ...

The binomial distribution is a key concept in probability that models situations where you repeat the same experiment several times, and each time there are only two possible outcomes—success or ...