The Monte Carlo simulation technique, named for the famous Monaco gambling resort, originated during World War II as a way to model potential outcomes from a random chain of events. It is particularly ...

The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.

Dependence between variables, even within their contemporaneous and extreme movements, are not limited to linear relationships defined through the Pearson correlation, ρ. The ρ is the most common ...

Explain why probability is important to statistics and data science. See the relationship between conditional and independent events in a statistical experiment. Calculate the expectation and variance ...

This course builds a rigorous foundation of probability. Topics covered include: basic concepts of probability theory and statistics, counting, axioms of probability, independence, Bayes rule, ...