Over the last few decades, Lean Six Sigma has become an integral part of the world of business. It is one of the most ...

This column is the fourth in a series on parameter estimation, leading up to the justly famous Kalman filter. The discipline is based on the fact that our knowledge of the state of any real-world ...

Discover the secrets to generating random numbers in Python using the NumPy library. Unleash the full potential of your code ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

Everyone agrees the normal distribution isn't a great statistical model for stock market returns, but no generally accepted alternative has emerged. A bottom-up simulation points to the Laplace ...

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 ...

Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. Somer G. Anderson is CPA, doctor of accounting, and an accounting ...

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 ...