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 ...

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 ...

Author: Chris Boucher (March 2011). This app displays an intricate Venn diagram, containing various combinations of set intersections, unions and complements. Users can shade the area they choose by ...

For any event that has multiple outcomes with different probabilities, it can be helpful and illustrative to construct a chart or diagram of the possible outcomes. Tree diagrams are a useful example ...