The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and applications of statistics and probability. The Institute was formed at a ...

Various modifications have been suggested in the past to extend Shannon entropy to continuous random variables. This article investigates these modifications, and suggests a new entropy measure with ...

Lucas Downey is the co-founder of MoneyFlows, and an Investopedia Academy instructor. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . . For example, stock prices are discrete random variables, ...