Several people each express their opinion of an uncertain quantity by providing their mean and standard deviation of it. In this paper we discuss the problem of incorporating all these opinions into a ...

Future events are far from certain in the business world. This is especially true for smaller businesses, which tend to have more volatility than larger organizations, or newer businesses without a ...

David Harper is the CEO and founder of Bionic Turtle. He is also a published author with a popular YouTube channel on expert finance topics. Almost regardless of your view about the predictability or ...

The primary goal of managerial accounting is to supply internal decision-makers with the information necessary to make good planning and cost-control decisions. While data, research studies and ...

In mathematics and statistics, a probability distribution, more properly called a probability density, assigns to every interval of the real numbers a probability, so that the probability axioms are ...

All sorts of physical processes in this analog world exhibit some degree of randomness. Think of noise, for example. Many noisy processes are described by Gaussian probability distributions. We should ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

Circular statistics is a specialised subfield of statistics that focuses on analysing data points distributed on a circle. Unlike conventional linear statistics, circular data is characterised by ...

A team of international physicists has brought Bayes’ centuries-old probability rule into the quantum world. By applying the ...

Students of statistics and researchers in search of a stats review will appreciate the Probability-Distributions app designed by Dr. Matthew Bognar at the University of Iowa. The app includes ...