Measurement shows that almost one-half of all market days are down days and slightly more are up days, but close enough to think of it as 50/50. Just as the probability of getting a long string of ...

The chance of rain, shown on a weather app, is given as a percentage. This is a relative frequency, based on real data. The chance of rain, shown on a weather app, is given as a percentage. This is a ...

In 1929, a few years prior to his colleague Kolmogorov's Grundbegriffe, the leading Russian probabilist Khinchin published a paper in which he commented on the foundational ambitions of von Mises' ...