The Central Limit Theorem is a statistical concept applied to large data distributions. It says that as you randomly sample data from a distribution, the means and standard deviations of the samples ...

The art and science of modeling returns of financial assets is forever unsatisfying because no one model fully captures the true behavior of asset performances. The one-year distribution, in short, ...

This column is the fourth in a series on parameter estimation, leading up to the justly famous Kalman filter. The discipline is based on the fact that our knowledge of the state of any real-world ...

The normal distribution is pretty cool. It’s a mathematically determined probability distribution that does a good job of describing the patterns of variability between scores for many variables in ...