In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...

Subjective probability is a type of probability derived from an individual's personal judgment about whether a specific outcome is likely to occur.

Joint probability is a statistical measure that calculates the likelihood of two events occurring together and at the same point in time.

We draw attention to some important nonlinear equations commonly arising in applied probability, review some known techniques to compute their minimal nonnegative solutions, propose improved iterative ...