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 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

It’s estimated that human adults make about 35,000 decisions a day — the percentage of good decisions depends on the adult. These choices can be as banal as deciding to roll or crumple toilet paper or ...

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 ...

An analysis technique that has been applied to eliminating spam. It "learns" to differentiate real mail from advertising by examining the words and punctuation in large samples of both types of ...

For more than 60 years, this blank slate approach has been the Food and Drug Administration’s gold standard — and for good ...