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 ...

This is a preview. Log in through your library . Abstract It is argued that probability should be defined implicitly by the distributions of possible measurement values characteristic of a theory.

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 ...

Probability concepts and random variables. Failure rates and reliability testing. Wear-in, wear-out, random failures. Probabilistic treatment of loads, capacity, safety factors. Reliability of ...