Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

The problem Litt posted was: 'Suppose you have a urn containing 100 balls, n of which are red and 100-n are green, where n is uniformly distributed between 0 and 100. You randomly draw a ball from the ...

In professional baseball’s World Series, the championship is decided in a best-of-seven format. The first team to win four games gets the pennant. Curiously, series that go on for the full seven games ...