Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.

p-values are commonly used as summaries of evidence for association between a genetic variant and phenotype, but they have an important limitation in that they are unable to quantify how confident one ...

In the ever-evolving toolkit of statistical analysis techniques, Bayesian statistics has emerged as a popular and powerful methodology for making decisions from data in the applied sciences. Bayesian ...