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 ...

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

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 ...

Here’s our estimate of public support for vouchers, broken down by religion/ethnicity, income, and state: (Click on image to see larger version.) We’re mapping estimates from a hierarchical Bayes ...