Suppose that in a ballot candidate A scores a votes and candidate B scores b votes, and that all the possible voting records are equally probable. Corresponding to the first r votes, let α r and β r ...

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn ...

Explain why probability is important to statistics and data science. See the relationship between conditional and independent events in a statistical experiment. Calculate the expectation and variance ...

Sankhyā: The Indian Journal of Statistics, Series A (1961-2002), Vol. 60, No. 2 (Jun., 1998), pp. 171-175 (5 pages) ...

Despite nearly 100 years of development in econometrics, the treatment of random shocks remains quite naïve. Economists overuse normal distribution, the classic bell curve, to model the influence of ...

Economics deals with systematic interaction between variables—supply, demand, investment, and consumption. Statistical tools that economists deploy add the idea of random variables—’shocks’—to these ...