The probability distribution of the number of defaults plays an important role in pricing problems of multiple-name credit derivatives. When the group size gets large, it becomes increasingly ...

We live in a world where a lot of things seem to happen by pure chance, from winning the Lotto to losing your car keys. But the truth is, the likelihood of many everyday things happening is heavily ...

Scientists at the University of California, San Diego (UCSD) have developed new insight into a formula that helped British cryptanalysts crack the German Enigma code in World War II. Scientists at the ...

The theoretical probability of getting a head when you flip a fair coin is \(\frac{1}{2}\), but if a coin was actually flipped 100 times you may not get exactly 50 heads, although it should be close ...