Learning abstract concepts like probability can often be challenging without practical examples. For many, it becomes easier to grasp when these ideas are connected to real-life experiences or ...

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

Most people know children learn many skills simply by watching people around them. Without explicit instructions youngsters know to do things like press a button to operate the television and twist a ...

Can you predict whether a passenger would have survived the sinking of the Titanic based on factors like gender and income? How do you know if a mushroom is poisonous or safe to eat? What separates a ...

The times they are a changin’ … and so are the stats. The old process of judging baseball players and teams relied on simple counting stats (runs batted in, hits, wins) and basic rate stats (batting ...

Crows can make decisions according to the likelihood of getting a reward – a cognitive feat known to mathematicians as statistical inference, and rarely found outside of primates. “‘Bird brain’ is ...

Most people know children learn many skills simply by watching people around them. Without explicit instructions youngsters know to do things like press a button to operate the television and twist a ...

Want to help your 12th-grader master math? Here are some of the skills your child will be learning in the classroom. For high school students, math skills and understandings are organized not by grade ...

Monte Carlo simulation is a technique used to demonstrate risk and a range of possible outcomes, in which a financial plan is put through thousands of possible return paths for the portfolio to ...