We elaborate on an alternative representation of conditional probability to the usual tree diagram. We term the representation “turtleback diagram” for its resemblance to the pattern on turtle shells.

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 ...

If we saw a purple marble first, however, the probability of seeing a purple in the second trial is 1 4 . In simple terms, the probability of seeing an event B in the second trial depends on the ...

In the previous lessons and labs, you learned about some fundamentals of probability theory, along with basic combinatorics such as permutations and combinations. You'll now extend your knowledge of ...

In decision modeling with influence diagrams, the most challenging task is probability elicitation from domain experts. It is usually very difficult for experts to directly assign precise ...

The probability that a tennis player wins the first set of a match is \(\frac{3}{5}\). If she wins the first set, the probability that she wins the second set is \(\frac{9}{10}\). If she loses the ...