The total area under the curve must equal 1, representing the fact that the probability of some outcome occurring within the entire range is certain. \[\int_{-\infty}^{\infty}f\left(x\right)dx=1\] ...

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 ...

The normal distribution (also known as the Gaussian distribution) is arguably the most important distribution in Statistics. It is often used to represent continuous random variables occurring in ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Proper handling of continuous variables is crucial in healthcare research, for example, within regression modelling for descriptive, explanatory, or predictive purposes. However, inadequate methods ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J. Brock is a CFA and CPA with more ...

In the early development of probability theory, only discrete random variables (although not called random variables at the time) were considered. Isaac Newton (1643-1727) considered the idea of ...