The relative frequency definition of probability says: If an experiment is repeated, the probability of an event (a specified outcome of the experiment) is the relative frequency of occurrence of that ...

A variation of a puzzle called the “pick-up sticks problem” asks the following question: If I have some number of sticks with random lengths between 0 and 1, what are the chances that no three of ...

The mathematician Daniel Litt has driven social media users to distraction with a series of simple-seeming but counterintuitive probability puzzles. In late January, Daniel Litt posed an innocent ...

Future events are far from certain in the business world. This is especially true for smaller businesses, which tend to have more volatility than larger organizations, or newer businesses without a ...