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 ...

Two events are independent if the probability of the first event happening has no impact on the probability of the second event happening. For example, the probability of rolling a 6 on a die will not ...

A tree diagram is helpful for working with event intersections and conditional probabilities. A tree consists of nodes and branches representing different stages in an experiment. Tree 1 shows an ...

We elaborate on an alternative representation of conditional probability to the usual tree diagram. We term the representation “turtleback diagram” for its resemblance to the pattern on turtle shells.

Probability is a fundamental concept in mathematics and statistics that deals with the likelihood of events occurring. It provides a framework for quantifying uncertainty and making predictions based ...

1 Institute of Mathematics Education, University of Education, Freiburg, Freiburg, Germany 2 Institute of Mathematics, University of Kassel, Kassel, Germany It is an ongoing debate, what properties of ...