Your guides to the weird side of the web explain the Monty Hall problem and the math of probability.

Empirical probability uses the number of occurrences of an outcome within a sample set as a basis for determining the ...

A Markov chain is a sequence of random variables that satisfies P(X t+1 ∣X t ,X t−1 ,…,X 1 )=P(X t+1 ∣X t ). Simply put, it is a sequence in which X t+1 depends only on X t and appears before X t−1 ...

A GCSE Maths video about what frequency trees are and how to create them. With worked examples, this video shows how frequency trees can be used to record and organise large amounts of information ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...