The study of probability arose from interest in games and gambling which have been around since ancient civilization. Around 5000 years ago, Egyptians were using the astragalus, a bone found in the ...

Life rarely hands us neat examples, though. Events mix, overlap, depend on past outcomes and human behaviour. That’s where probability gets interesting, and a little messy. Think about weather ...

Gerolamo Cardano (1501-1576) wrote the first recorded definition of probability. Mlodinow (2009) paraphrased a modernized definition of probability from Cardano's work, Book on Games of Chance: ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

The mathematics behind artificial intelligence (AI) and machine learning (ML) rely on linear algebra, calculus, probability, and statistics. These provide the foundation for developing the needed ...

Craps is a game that is based on probabilities, much like any game of chance. It’s a game that involves using two six-sided dice and trying to throw a certain outcome, with the likelihood of the ...