A new proof, based on the duality theorem of linear programming, is given of a theorem of V. Strassen, which states essentially that the minimum distance between random variables with given ...

Explain why probability is important to statistics and data science. See the relationship between conditional and independent events in a statistical experiment. Calculate the expectation and variance ...

Slash distributions offer a flexible framework for modelling heavy-tailed phenomena and atypical data behaviour in statistical inference. Originating as a means to construct distributions with high ...

Discover how Monte Carlo analysis helps investors assess risk and make informed decisions. Explore its role in generating ...