It’s estimated that human adults make about 35,000 decisions a day — the percentage of good decisions depends on the adult. These choices can be as banal as deciding to roll or crumple toilet paper or ...

We live in a world where a lot of things seem to happen by pure chance, from winning the Lotto to losing your car keys. But the truth is, the likelihood of many everyday things happening is heavily ...

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 ...

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 ...

Two Bayesian clinical trial designs that perform subgroup-specific decision making and inference based on elicited utilities of patient outcomes are reviewed. The first is a randomized comparative ...

Veteran trader Peter Brandt says Bitcoin is following a similar pattern from its past, which could lead to a $125,000 BTC price by New Year’s Eve. Bitcoin (BTC) price entered a strong price discovery ...