Native Americans have been playing with dice in games of chance for more than 12,000 years, according to a new paper ...

Abstract: In probability theory, variance is a device to measure dispersion of random variable from its mean. In order to explain complex uncertain random variable,variance and pseudo-variance are ...

This investigation was supported (in part) by the U.S. Public Health Service, National Institutes of Health, grant GM-10525. Note: The article usage is presented with a three- to four-day delay and ...

ABSTRACT: Repeated convolution and truncation of a truncated fat-tailed distribution, instead of Monte Carlo simulation, for pricing a discrete, simple barrier option is presented. The parameters for ...

A discrete random variable is a type of random variable that can take on a countable set of distinct values. Common examples include the number of children in a family, the outcome of rolling a die, ...

The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.

The FactorGraph package provides the set of different functions to perform inference over the factor graph with continuous or discrete random variables using the belief propagation algorithm. A ...

Abstract: The law of large numbers in probability theory states that the average of random variables converges to its expected value in some sense under some conditions. Sometimes, random factors and ...