Let $Y_1, \cdots, Y_r$ be independent random variables, each uniformly distributed on $\mathscr{M} = \{1,2, \cdots, M\}$. It is shown that at most $N = 1 + M + \cdots ...

Spacings (that is, the differences between successive order statistics) are useful in various applications in statistics. Many properties of the spacing are known when the spacings are constructed ...

(1) PROF. FRECHET'S "Généralités" represents the first volume only of a treatise which, as a whole, is to form part of the very important "Traité du calcul des probabilités"edited by Prof. Borel. The ...

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 ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Suzanne is a content marketer, writer, and fact-checker.

Probability is an everyday concept that most people have only a vague, intuitive understanding of. It concerns the notion that in a random experiment there are many possible events that could occur ...

Probability is an everyday concept that most people have only a vague, intuitive understanding of. It concerns the notion that in a random experiment there are many possible events that could occur ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...