Probability has a popular meaning that is not the same as the mathematical meaning. As a small-business owner, you may act on hunches, guesses and instincts. After such actions, you might even say you ...

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 ...

Entrepreneurs and venture capitalists know there is no return without risk. But they can enhance their odds of success by tapping into the emerging field of probability management to better visualize ...

Probability is the study of chance. I would argue that for most people, probability and statistics are the most important subset of mathematics after algebra. I believe it’s a failure of the United ...

I recently led a webinar on the laws of thermodynamics, which got me thinking: A business is very much a closed system, such as a universe. Therefore, if entropy is always increasing in a closed ...

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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...