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

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Covariance: a measure of the direction of the linear relationship between two variables. Discrete ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

This is a preview. Log in through your library . The purpose of The Annals of Probability is to publish contributions to the theory of probability and statistics and their applications. The emphasis ...

This paper deals with the first passage optimality and variance minimisation problems of discrete-time Markov decision processes (MDPs) with varying discount factors and unbounded rewards/costs. First ...