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Articles Tagged: Probability

Articles

  • Birthday Paradox - A counter-intuitive concept in probability showing that a surprisingly small group size yields a high chance of two people sharing a birthday.
  • Black Swan Theory - An exploration of Black Swan Theory, detailing its definition, historical roots, real-world examples, and profound implications for understanding unpredictability and risk.
  • Gambler's Fallacy - The Gambler's Fallacy is a cognitive bias where individuals mistakenly believe that past outcomes of independent random events influence future outcomes.
  • Monty Hall Problem - A famous probability puzzle that demonstrates the counterintuitive nature of conditional probability and optimal decision-making under uncertainty.
  • St. Petersburg Paradox - A foundational paradox in decision theory that reveals a discrepancy between a gamble's infinite expected monetary value and people's willingness to pay.