Bayes' theorem is a statistical formula used to calculate conditional probability. Learn how it works, how to calculate it ...

"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 ...

Source: Thunder Bay, Canada. Used with permission of Dan Hunt, MD. Coincidences attract our attention because they seem weird, odd, or unlikely. Their improbability stimulates wonder—“what are the ...

I recently led a webinar on the laws of thermodynamics, which got me thinking: A business is very much a closed system, such as a universe. Therefore, if entropy is always increasing in a closed ...