In the real world, probability is a tough thing to characterize. If I roll a die, what does it mean to say that it has a one-sixth chance of coming up 5? We say that the outcome is random because we ...

Are Powerball Drawings and 'Quick Pick' Numbers Really Random? The math behind all the discussion of tonight's Powerball drawing assumes true randomness – equal likelihood for each number to be chosen ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...