Objective probability estimates the odds of an event occurring through data analysis. It uses concrete measures instead of guesses to provide a reliable forecast.

The mathematical measure of the uncertainty is called probability. For example, consider the following questions: (a) Will it rain today? (b) Which of the three candidates will win? (c) On throwing a ...

This course is compulsory on the MSc in Financial Mathematics and MSc in Quantitative Methods for Risk Management. This course is available with permission as an outside option to students on other ...