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 ...

The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and applications of statistics and probability. The Institute was formed at a ...

In this article we review two historical approximations to the Poisson and binomial cumulative distribution functions (CDFs); that is, the Wilson—Hilferty and Camp—Paulson approximations. Both of ...

The Poisson distribution is widely used in artificial intelligence (AI) and machine learning. In Bayesian inference, probability distributions often help solve problems that would otherwise be ...