The first step is to ensure that the given distribution actually is a valid probability distribution. As mentioned earlier, ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

This note suggests that expressing a distribution function as a mixture of suitably chosen distribution functions leads to improved methods for generating random variables in a computer. The idea is ...

Spacings (that is, the differences between successive order statistics) are useful in various applications in statistics. Many properties of the spacing are known when the spacings are constructed ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...