Chris Wiggins, an associate professor of applied mathematics at Columbia University, offers this explanation. A patient goes to see a doctor. The doctor performs a test with 99 percent ...

Observing, gathering knowledge and making predictions are the foundations of the scientific process. The accuracy of our predictions depends on the quality of our present knowledge and accuracy of our ...

Nate Silver, baseball statistician turned political analyst, gained a lot of attention during the 2012 United States elections when he successfully predicted the outcome of the presidential vote in ...

Mike Lee receives relevant research funding from the Australian Research Council, the Australia-Pacific Science Foundation, and Flinders University. Benedict King receives funding from the Australian ...

The stock market is an ever-changing place. In fact, it’s changing every second of every day as prices go up and down, and new factors impact the trajectory of the market. It’s important for investors ...

Bayes' theorem, also called Bayes' rule or Bayesian theorem, is a mathematical formula used to determine the conditional probability of events. The theorem uses the power of statistics and probability ...