When scientists spot an asteroid whose trajectory might take it close to Earth, they monitor it frequently and calculate the probability that it might collide with our planet.

Learn how to calculate Value at Risk (VaR) to effectively assess financial risks in portfolios, using historical, variance-covariance, and Monte Carlo methods.

Forecasters use a specific formula to calculate rain chances: Probability of Precipitation (PoP)= Confidence (C) x Area with ...

When scientists spot an asteroid whose trajectory might take it close to Earth, they monitor it frequently and calculate the probability that it might collide with our planet.

c) On sober reflection, what’s most likely to happen. The weighted average of these is your most probability forecast. Calculate it using the formula [a + b + (4 x c)].