Any uncertainty in the calculation of the object’s orbit causes variations in the predicted solution. Instead of one precise ...

The probability of winning is .5, the probability of losing is .5, and the payoff (because this is even money) is 1 -- for every $1 you bet, you make or lose $1. Thus, the formula is (1*.5-.5)/1 ...

Example of the Hazard Rate . The probability density calculates the probability of failure at any given time. For instance, a person is certain to die eventually.