The multinomial distribution is a type of probability distribution used in finance to determine the likelihood of a certain set of outcomes.

Imagine you are training an AI to play chess. Whenever it makes a wrong move, you point out the mistake and explain the reason. In the world of deep learning, the Loss Function plays a similar role.

In addition to predicting future sales levels, probability distribution can be a useful tool for evaluating risk. Consider, for example, a company considering entering a new business line.

They split the problem up into small, manageable steps. Instead of trying to solve for the entire probability distribution in one go, they focused on only a small slice of the moments. For example, to ...

P-value is the level of marginal significance within a statistical hypothesis test, representing the probability of the occurrence of a given event.

All of statistics and much of science depends on probability—an astonishing achievement, considering no one’s really sure what it is ...