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Abstract: Foundations, models, and algorithms are provided for identifying optimal mean and variance bounds of an ill-specified random variable. A random variable is ill-specified when at least one of ...

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 ...

Abstract: Fuzzy random variables possess several interpretations. Historically, they were proposed either as a tool for handling linguistic label information in statistics or to represent uncertainty ...

Probability theory is indispensable in computer science: It is at the core of artificial intelligence and machine learning, which require decision making under uncertainty. It is integral to CS theory ...

The binomial distribution is a key concept in probability that models situations where you repeat the same experiment several times, and each time there are only two possible outcomes—success or ...

A composite random variable is a product (or sum of products) of statistically distributed quantities. Such a variable can represent the solution to a multi-factor quantitative problem submitted to a ...