"Yes or no: was there once life on Mars?" I can't say. "What about intelligent life?"' That seems most unlikely, but again, I can't really say. The simple yes-or-no framework has no place for shadings ...

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 ...

Possibility theory and conditional probability offer complementary perspectives for modelling uncertainty, with each framework contributing distinct advantages. Possibility theory, rooted in fuzzy set ...

Conditional probability occurs when it is given that something has happened. (Hint: look for the word “given” in the question. The probability that a tennis player wins the first set of a match is ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...