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Author Archive | Paul King

What is Random Walk Theory?

A random walk describes the movement of an object along some mathematical space, or the different values generated by a random variable. Random walks have applications in Finance, Economics, Chemistry, Physics, and more. In this article, we’ll introduce the idea of random walks and Random Walk Theory.

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Markov Chains

A Markov chain is a memoryless stochastic process, meaning that future states of the system depend only upon the current state. In this article, we introduce the concept of a Markov chain and examine a few real-world applications.

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The Basics of Probability

In this article, we focus on the basics of probability, including its definition and how to calculate it from a given sample space. We also look at basic probability rules using “and” and “or,” and practice using some example problems.

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What is conditional probability?

A conditional probability is one in which some condition has already been met. For example, if you know that it’s raining (the given condition), the probability of your baseball game getting cancelled increases. In this article, we look at conditional probability in depth.

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Continuous Probability Distribution Explained

What is a continuous probability distribution? It will be helpful to first define the terms continuous versus discrete, and then compare the two. According to Apple Dictionary, discrete means, “individually separate and distinct,” whereas continuous means, “forming an unbroken whole; without interruption.” A great way to visualize the difference is to look at a fretted […]

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