Future events are far from certain in the business world. This is especially true for smaller businesses, which tend to have more volatility than larger organizations, or newer businesses without a ...

Probability is the study of chance. I would argue that for most people, probability and statistics are the most important subset of mathematics after algebra. I believe it’s a failure of the United ...

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 ...

Entrepreneurs and venture capitalists know there is no return without risk. But they can enhance their odds of success by tapping into the emerging field of probability management to better visualize ...

Making management decisions based solely on probability is useful when you can determine that the outcomes of your decisions are, for the most part, predictable based on your own or others' past ...

Studies axioms, counting formulas, conditional probability, independence, random variables, continuous and discrete distribution, expectation, joint distributions, moment generating functions, law of ...