In economic theory, the money pump argument is a thought experiment showing that rational behavior requires transitive preferences. Classical economic theory assumes that preferences are transitive: i
Gompertz–Makeham law of mortality
The Gompertz–Makeham law states that the human death rate is the sum of an age-dependent component (the Gompertz function, named after Benjamin Gompertz), which increases exponentially with age and an
The survival function is a function that gives the probability that a patient, device, or other object of interest will survive past a certain time. The survival function is also known as the survivor
Skewness risk in financial modeling is the risk that results when observations are not spread symmetrically around an average value, but instead have a skewed distribution. As a result, the mean and t
In probability theory, the birthday problem asks for the probability that, in a set of n randomly chosen people, at least two will share a birthday. The birthday paradox is that, counterintuitively, t
Amplitude-shift keying (ASK) is a form of amplitude modulation that represents digital data as variations in the amplitude of a carrier wave.In an ASK system, a symbol, representing one or more bits,
High availability (HA) is a characteristic of a system which aims to ensure an agreed level of operational performance, usually uptime, for a higher than normal period. Modernization has resulted in a
Spectrum of theistic probability
Popularized by Richard Dawkins in The God Delusion, the spectrum of theistic probability is a way of categorizing one's belief regarding the probability of the existence of a deity.
Fuzzy-trace theory (FTT) is a theory of cognition originally proposed by Valerie F. Reyna and Charles Brainerd that draws upon dual-trace conceptions to predict and explain cognitive phenomena, partic
Why Most Published Research Findings Are False
"Why Most Published Research Findings Are False" is a 2005 essay written by John Ioannidis, a professor at the Stanford School of Medicine, and published in PLOS Medicine. It is considered foundationa
Buffon's needle problem
In mathematics, Buffon's needle problem is a question first posed in the 18th century by Georges-Louis Leclerc, Comte de Buffon: Suppose we have a floor made of parallel strips of wood, each the same
Circular error probable
In the military science of ballistics, circular error probable (CEP) (also circular error probability or circle of equal probability) is a measure of a weapon system's precision. It is defined as the
Stars and bars (combinatorics)
In the context of combinatorial mathematics, stars and bars (also called "sticks and stones", "balls and bars", and "dots and dividers") is a graphical aid for deriving certain combinatorial theorems.
Stress wave communication
Stress wave communication is a technique of sending and receiving messages using host structure itself as the transmission medium.Conventional modulation methods such as amplitude-shift keying (ASK),
The exponential mechanism is a technique for designing differentially private algorithms. It was developed by Frank McSherry and Kunal Talwar in 2007. Their work was recognized as a co-winner of the 2
Self-sustainability and self-sufficiency are overlapping states of being in which a person or organization needs little or no help from, or interaction with, others. Self-sufficiency entails the self
In gambling, a Dutch book or lock is a set of odds and bets, established by the bookmaker, that ensures that the bookmaker will profit—at the expense of the gamblers—regardless of the outcome of the e
Applied probability is the application of probability theory to statistical problems and other scientific and engineering domains.
When two probability distributions overlap, statistical interference exists. Knowledge of the distributions can be used to determine the likelihood that one parameter exceeds another, and by how much.
Statistical risk is a quantification of a situation's risk using statistical methods. These methods can be used to estimate a probability distribution for the outcome of a specific variable, or at lea
The empirical probability, relative frequency, or experimental probability of an event is the ratio of the number of outcomes in which a specified event occurs to the total number of trials, not in a
Banach's matchbox problem
Banach's match problem is a classic problem in probability attributed to Stefan Banach. Feller says that the problem was inspired by a humorous reference to Banach's smoking habit in a speech honourin