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 ...

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 ...

The probability that a tennis player wins the first set of a match is \(\frac{3}{5}\). If she wins the first set, the probability that she wins the second set is \(\frac{9}{10}\). If she loses the ...

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 ...

"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 ...

To calculate the probability of an event, the total number of possible outcomes is often required. For simple situations, making a list or completing a sample space diagram is enough but in more ...