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 ...

Virtually all computations performed by the nervous system are subject to uncertainty and taking this into account is critical for making inferences about the outside world. For instance, imagine ...

It’s estimated that human adults make about 35,000 decisions a day — the percentage of good decisions depends on the adult. These choices can be as banal as deciding to roll or crumple toilet paper or ...

Chris Wiggins, an associate professor of applied mathematics at Columbia University, offers this explanation. A patient goes to see a doctor. The doctor performs a test with 99 percent ...

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 ...

Nate Silver, baseball statistician turned political analyst, gained a lot of attention during the 2012 United States elections when he successfully predicted the outcome of the presidential vote in ...

Observing, gathering knowledge and making predictions are the foundations of the scientific process. The accuracy of our predictions depends on the quality of our present knowledge and accuracy of our ...

Don’t worry, a little Bayesian analysis won’t hurt you. By Siobhan Roberts There is a statistician’s rejoinder — sometimes offered as wry criticism, sometimes as honest advice — that could hardly be a ...