MARTINGALE

Martingale

In probability theory, a martingale is a model of a fair game where knowledge of past events never helps predict the mean of the future winnings. In particular, a martingale is a sequence of random variables for which, at a particular time in the realized sequence, the expectation of the next value in the sequence is equal to the present observed value even given knowledge of all prior observed values at a current time.

The above text is a snippet from Wikipedia: Martingale (probability theory)
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martingale

Noun

  1. A piece of harness used on a horse to keep it from raising its head above a desired point.
  2. A spar, or piece of rigging that strengthens the bowsprit.
  3. A stochastic process relating random variables to earlier values
  4. A gambling strategy in which one doubles the stake after each loss.
  5. A strap attached to the sword handle, preventing a sword being dropped if disarmed.


The above text is a snippet from Wiktionary: martingale
and as such is available under the Creative Commons Attribution/Share-Alike License.

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