The US Food and Drug Administration (FDA) is now “open to bayesian statistics,” contrasting this with the frequentist approach that the agency and the drug industry have historically relied on for ...

For more than 60 years, this blank slate approach has been the Food and Drug Administration’s gold standard — and for good ...

Bayesian statistics represents a powerful framework for data analysis that centres on Bayes’ theorem, enabling researchers to update existing beliefs with incoming evidence. By combining prior ...

Discover how credibility theory helps actuaries use historical data to estimate risks and set insurance premiums; learn how the Bayesian and Buhlmann methods relate.

Some of you may have come across a growing number of publications in your field using an alternative paradigm called Bayesian statistics in which to perform their statistical analyses. The goal of ...