Probability theory forms the mathematical backbone for quantifying uncertainty and random events, providing a rigorous language with which to describe both everyday phenomena and complex scientific ...

Imprecise probability theory provides a robust alternative to traditional probability by representing uncertainty through ranges or sets of values rather than single numerical estimates. This ...

What makes a proof stronger than a guess? What does evidence look like in the realm of mathematical abstraction? Hear the mathematician Melanie Matchett Wood explain how probability helps to guide ...

PROBABILITY theory is a quaint little piece of mathematics. It is about sets of non-negative numbers that are attached to actual and possible physical events, that sum to 1 and that obey certain rules ...

What happened when a gambler asked for help from a mathematician? The formal study of Probability. Infinite Series is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV ...

This course is available on the MSc in Financial Mathematics, MSc in Mathematics and Computation and MSc in Quantitative Methods for Risk Management. This course is available with permission as an ...

“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP). It states that if prospect x is preferred to y knowing that Event A ...

Probability theory is the mathematical study of phenomena characterized by randomness or uncertainty. More precisely, probability is used for modelling situations when the result of an experiment, ...