The total area under the curve must equal 1, representing the fact that the probability of some outcome occurring within the entire range is certain. \[\int_{-\infty}^{\infty}f\left(x\right)dx=1\] ...

The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.

These policies let you invest your cash value directly in mutual fund-like accounts, but they also carry risks if the investments lose money Written By Written by Insurance Staff Writer, WSJ | Buy ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

Medical research studies have a number of possible designs. A strong research project closely ties the research questions/hypotheses to the methodology to be used, the variables to be measured or ...

Every business has operating expenses — that is, the costs of running the business. These expenses can generally be classified in two ways: Fixed expenses and variable expenses. Understanding the ...

In the real world, probability is a tough thing to characterize. If I roll a die, what does it mean to say that it has a one-sixth chance of coming up 5? We say that the outcome is random because we ...

Roll a die and ask students to identify the random variable. Since a die can only take on values of 1, 2, 3, 4, 5, or 6, this is a discrete random variable. Repeat ...

Abstract: In this letter, we derive new results for the statistics of the ratio of two complex Gaussian random variables (RVs), where the numerator and denominator may have arbitrary means and are ...