Discover what a log-normal distribution is, its financial applications, and how to calculate it, including using Excel for practical financial analysis.

Over the last few decades, Lean Six Sigma has become an integral part of the world of business. It is one of the most ...

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 ...

A probability distribution is a statistical model that shows the possible outcomes of a particular event or course of action as well as the statistical likelihood of each event.

Animator Shuyi Chiou and the folks at CreatureCast give an adorable introduction to the central limit theorem – an important concept in probability theory that can reveal normal distributions (i.e.