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 ...

She is a FINRA Series 7, 63, and 66 license holder ... and 1 denotes the certain outcome of an event. For example, the probability of drawing a red card from a deck of cards is 1/2 = 0.5. This ...

For each World Series since 1925, I plugged the teams’ pre-Series Elo ratings into a best-of-seven probability formula and calculated each club’s odds of winning the Series. Chicago’s win ...

Thus, for example, the probability of getting a 3, 2, 6, 2, and 5 when rolling a single die five times is 1/6 x 1/6 x 1/6 x 1/6 x 1/6 or 1/7,776 -- one chance in 7,776. The much longer sequences ...