Learn how to calculate Value at Risk (VaR) to effectively assess financial risks in portfolios, using historical, variance-covariance, and Monte Carlo methods.

Prior probability, in Bayesian statistical inference, is the probability of an event based on established knowledge, before empirical data is collected.

In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...

Forecasters use a specific formula to calculate rain chances: Probability of Precipitation (PoP)= Confidence (C) x Area with ...