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 ...

To calculate the probability of an event, the total number of possible outcomes is often required. For simple situations, making a list or completing a sample space diagram is enough but in more ...

Venn diagrams are used to sort sets of data. The probability of an event not happening uses the complement of the region on the Venn diagram. Count the number of elements in each region. Redraw the ...