When we invest in a company’s shares, we are making a long-term bet that the share price will rise over time. But in investing, we never deal in absolutes but rather a range of probable outcomes. This ...

A LARGE part of statistical theory is based on the assumption that measurements are distributed in normal probability curves and that the variance is constant. The normal curve was discovered by de ...

Where \(X\) is a normally distributed random variable with mean \(\mu\) and standard deviation \(\sigma\). The peak of the curve occurs at \(x=\mu\), and the spread ...

This Chapter explains the probability meanings of current load duration curve, load factor, and minimum load rate; introduces Barth Formula representing the relationship among loss factor, variance ...

The fragility curve expresses the probability that an asset exceeds some serviceability state for a given level of environmental perturbation or other loadings. It is an important component in the ...