In one day, 433 people won the Philippine lottery jackpot. What were the chances? On October 1, 2022, something strange ...

Bayesian predictive density estimation represents a cornerstone of modern statistical inference by integrating prior knowledge with observed data to produce a predictive distribution for future ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Eric's career includes extensive work in both public and corporate accounting with ...

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 ...

Bayesian thinking helps you make better decisions by updating your beliefs when new evidence appears. Even in games of chance like scratch-off lotteries, paying attention to information can improve ...

Disrupting left superior frontal sulcus selectively impaired perceptual but not value-based decisions, revealing segregated ...

A new study published in Therapeutic Innovation & Regulatory Science provides crucial insights into the design and ...

Discover how sample size neglect impacts statistical conclusions and learn to avoid this cognitive bias studied by renowned experts like Tversky and Kahneman.

Trial-to-trial variability can result from both deterministic sources, such as complex dynamics or internal states, and randomness — that is, noise. This Review focuses on noise and its impact along ...