What happened when a gambler asked for help from a mathematician? The formal study of Probability. Infinite Series is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV ...

It sounds like a homework problem out of a high school math book: What is the probability of rolling a pair of dice 154 times continuously at a craps table, without throwing a seven? The answer is ...

Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced financial consultant. She has a demonstrated history of working in both institutional and retail environments, from broker-dealers to ...

Here’s a deceptively simple exercise: Come up with a random phone number. Seven digits in a sequence, chosen so that every digit is equally likely, and so that your choice of one digit doesn’t affect ...

"What makes dice fair?" is a more loaded question than you might think. At its simplest, a fair die means that each of the faces has the same probability of landing facing up. A standard six-sided die ...

In this paper we consider the problem of estimating the parameters of a Markov model using so-called macro data. It will be shown that the stochastic process of the macro data is a Markov chain, which ...