Over the years, many writers have implied that statistics can provide almost any result that is convenient at the time. Of course, honest practitioners use statistics in an attempt to quantify the ...

Bayesian estimation methods form a dynamic branch of statistical inference, utilising Bayes’ theorem to update probabilities in light of new evidence. This framework combines prior knowledge with ...

The Annals of Applied Statistics, Vol. 8, No. 2 (June 2014), pp. 852-885 (34 pages) Poverty maps are used to aid important political decisions such as allocation of development funds by governments ...

The stock market is an ever-changing place. In fact, it’s changing every second of every day as prices go up and down, and new factors impact the trajectory of the market. It’s important for investors ...

This article was published in Scientific American’s former blog network and reflects the views of the author, not necessarily those of Scientific American I’m not sure when I first heard of Bayes’ ...

Bayes factors comparing two or more competing hypotheses are often estimated by constructing a Markov chain Monte Carlo (MCMC) sampler to explore the joint space of the hypotheses. To obtain efficient ...

Mike Lee receives relevant research funding from the Australian Research Council, the Australia-Pacific Science Foundation, and Flinders University. Benedict King receives funding from the Australian ...

Bayes' theorem, also called Bayes' rule or Bayesian theorem, is a mathematical formula used to determine the conditional probability of events. The theorem uses the power of statistics and probability ...