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 ...

Having a strong opinion about an issue can make it hard to take in new information about it, or to consider other options when they’re presented. Thankfully, there’s an old rule that can help us avoid ...

Probability has a popular meaning that is not the same as the mathematical meaning. As a small-business owner, you may act on hunches, guesses and instincts. After such actions, you might even say you ...

Epistemic decision theory integrates formal models of rational belief with the processes of decision‐making under uncertainty. It addresses how agents should revise their credences in light of new and ...

Probabilities can be written as fractions, decimals or percentages on a scale from 0 to 1. Knowing basic facts about equally likely outcomes can help to solve more complicated problems. Probability is ...