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 ...

For any event that has multiple outcomes with different probabilities, it can be helpful and illustrative to construct a chart or diagram of the possible outcomes. Tree diagrams are a useful example ...

Venn diagrams can be useful for organising information about frequencies and probabilities, which can then be used to solve conditional probability problems. 90 pupils were asked whether they owned a ...

90 pupils were asked whether they owned a laptop or a tablet device. 52 said they owned a laptop. 45 said they owned a tablet. 23 said they owned both. Find the probability that a pupil chosen at ...