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 ...

FDA proposes framework clinical trial designs to guide Bayesian methods, improving efficiency in drug development for rare and pediatric conditions.

Bayesian analysis offers a robust framework for deciphering the intricate dynamics of time series data. By treating unknown parameters as random variables, this approach incorporates prior information ...

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

Journal of the Royal Statistical Society. Series A (Statistics in Society), Vol. 180, No. 4 (OCTOBER 2017), pp. 1191-1209 (19 pages) Area level models, such as the Fay–Herriot model, aim to improve ...

Learn to apply Bayes' theorem in financial forecasting for insightful, updated predictions. Enhance decision-making with ...

Machine Learning gets all the marketing hype, but are we overlooking Bayesian Networks? Here's a deeper look at why "Bayes Nets" are underrated - especially when it comes to addressing probability and ...

We consider the usual proportional hazards model in the case where the baseline hazard, the covariate link, and the covariate coefficients are all unknown. Both the baseline hazard and the covariate ...