Get a simple explanation of Bayes’ Theorem that anyone can understand, even with no advanced math background. This video ...

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

Bayes' theorem, also called Bayes' rule or Bayesian theorem, is a mathematical formula used to determine the conditional probability of events. The theorem uses the power of statistics and probability ...

“Bayesian Statistics the Fun Way: Understanding Statistics and Probability with Star Wars, Lego, and Rubber Ducks,” by Will Kurt (2019 No Starch Press) is an excellent introduction to subjects ...

Over the years, many writers have implied that statistics can provide almost any result that is convenient at the time. Of course, honest practitioners use statistics in an attempt to quantify the ...

Bayes' theorem of probability was proposed by English mathematician and clergyman Thomas Bayes in the 1740s, and rediscovered in the 1770s by Pierre Simon Laplace, a French mathematician. It states ...

A while back one of my students, “Frank,” a real smarty-pants, started babbling about something called Bayes’ theorem. He wrote a long, dense paper about the theorem’s revelatory power, which had ...

The stock market is an ever-changing place. In fact, it’s changing every second of every day as prices go up and down, and new factors impact the trajectory of the market. It’s important for investors ...