Rishabh Das

Let us say that you are a huge fan of cricket and your favorite batsman is going through a bad form and has not been scoring many runs. Now your friend has bet you 1000 rupees that your favorite batsman is not going to score a half-century. This puts you in a dilemma if you […]

Markov Chains help us to predict future events based on the current state as the only parameter. It does not depend on history to reach the current state. Markov Chains have extensive use in Physics and material sciences. Monte Carlo simulations are used for predicting situations through repeated simulations. It provides us with a probability

Companies want to know what all types of customers like so they can sell more products. But asking everybody is way too much work. This is where sampling comes in handy! Sampling means only surveying a small group instead of the entire population. This makes research easier. The trick is picking a sample that represents

We’ve all heard it – “go to college to get a good job.” The assumption is that higher education leads straight to higher incomes. Elite Indian institutes like the IITs and IIMs are even judged based on the average starting salaries of their graduates. But is this direct connection between schooling and income actually true?

Probability helps us with making investment choices. Since we can’t foresee the future, investors have to go on likelihood and chance instead of certainty. So before an analyst suggests a stock, they’ll gauge the probability it will gain or lose value. In this article, we’ll look at different types of probability distributions – discrete and