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Abstract: Advanced industries such as wind turbines aim for condition-based maintenance (CBM) to enhance system availability and reach higher revenue. Hence, decision making plays an essential role in ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

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 ...

Probability Distribution Notes: Probability is a fundamental aspect of mathematics that helps us understand and quantify uncertainty. Mastery of this subject is essential for students, as it has ...

He works in mysterious ways.

'POP' or 'probability of precipitation' has long been a source of confusion for those trying to make sense of their forecast. The POP, or probability of precipitation, feature is commonly found on ...