It’s estimated that human adults make about 35,000 decisions a day — the percentage of good decisions depends on the adult. These choices can be as banal as deciding to roll or crumple toilet paper or ...

In my practice, I find most people involved with advanced analytics, such as predictive, data science, and ML, are familiar with the name Bayes, and can even reproduce the simple theorem below. Still, ...

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 ...

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 ...

Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

How likely you think something is to happen depends on what you already believe about the circumstances. That is the simple concept behind Bayes' rule, an approach to calculating probabilities, first ...

You can use decision trees to guide you in deciding among several alternatives. The decision-tree method allows you to approach the problem in a structured and systematic way to arrive at a logical ...