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 I have an hour to solve a problem, I'd spend 55 minutes thinking about the problem and 5 minutes thinking about the solution' (Albert Einstein) Are we sure we are working on the right problem? Are ...

Introduction Have you ever heard anyone say the chance of something happening is “50–50”? What does that actually mean? This phrase has something to do with probability. Probability tells you how ...

Venn diagrams are used to sort sets of data. The probability of an event not happening uses the complement of the region on the Venn diagram. Count the number of elements in each region. Redraw the ...