The olfactory system faces a hard problem: on the basis of noisy information from olfactory receptor neurons (the neurons that transduce chemicals to neural activity), it must figure out which odors ...

The key idea behind the probabilistic framework to machine learning is that learning can be thought of as inferring plausible models to explain observed data. A machine can use such models to make ...

Estimation of probability of default (PD), loss given default and exposure at default for portfolio segments containing reasonably homogeneous assets is essential for prudent risk management as well ...