ProbabilityProbability theory talks about the construction and implications of probability models. For example, given a probability distribution, what are the mean and variance? What is the distribution of a transformed random variable? In computer simulations, probability theory tells us what will happen to the generated realizations, in particular when the experiments can be repeated as many times as the researcher wishes. This is a real-world analogue of the frequentist’s interpretation of...

ProbabilityProbability theory talks about the construction and implications of probability models. For example, given a probability distribution, what are the mean and variance? What is the distribution of a transformed random variable? In computer simulations, probability theory tells us what will happen to the generated realizations, in particular when the experiments can be repeated as many times as the researcher wishes. This is a real-world analogue of the frequentist’s interpretation of...