Probability underlies much of the modern world – an engineering professor explains how it actually works

Probability underpins AI, cryptography and statistics. However, as the philosopher Bertrand Russell said, “Probability is the most important concept in modern science, especially as nobody has the ...
Investopedia

Monte Carlo Analysis for Investment Risk Assessment

Robert Stammer, CFA, is the former director of investor engagement at CFA Institute and writes on thought leadership in the investment management industry. Charlene Rhinehart is a CPA , CFE, chair of ...
Utah State University

Normal Approximations

If the probability that a randomly selected person will vote in the next election is 0.39, how would we find the probability that more than half of the people in a sample of 1000 will vote? Since the ...