Tags » Probability

What hazard (failure) rate means?

Today, I realized what hazard rate (aka failure rate) means. Well, I knew the definition before, but now I understand it as well.

It would be easier to explain by comparing with pmf and cdf. 43 more words

An Introduction to Probability and Inductive Logic

With total silence around me and my mind wanting to immerse in a book, I picked up this book from my inventory. I came across a reference to this work in Aaron Brownâ€™s book on Risk Management. 3,524 more words

Books

Probability of Death = 1

I was thinking about death today. Right now the probability of us dying appears to be 1. We can broadly classify causes of death as, A) “natural” causes (e.g. 258 more words

Death

What Are P-Values?

Suppose you were part of the sub-atomic physics team working on discovering an important effect. The thing about sub-atomic physics is that nothing is certain and you cannot say something has happened with 100% certainty. 1,057 more words

Mathematics

Is Punishment or Reward more Effective?

What is most effective in getting people to learn: punishment, or reward?

Everything

"Memorylessness" property of some distributions.

Suppose that you are playing a gambling game, for example, a simple poker game. You have failed for times, what is the probability to fail more than times till you first win? 78 more words

Probability