A random variable is one whose value is unknown or a function that assigns values to each of an experiment’s outcomes. A random variable can be discrete or continuous.

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.

This paper is concerned with the determination of tight lower and upper bounds on the expectation of a convex function of a random variable. The classic bounds are those of Jensen and ...

What is Python? This post answers that question and walks you through the basics. Set up a coding environment and build your first simple app!

Relative importance of regressor variables is an old topic that still awaits a satisfactory solution. When interest is in attributing importance in linear regression, averaging over orderings methods ...