A random variable is a mathematical function that maps outcomes of random experiments to numbers. It can be thought of as the numeric result of operating a non-deterministic mechanism or performing a ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...

This paper studies the approximation of extreme quantiles of random sums of heavy-tailed random variables, or, more specifically, subexponential random variables. A key application of this ...