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 ...

Background Conventionally, frequentist approach has been used to model health state valuation data. Recently, researchers started to explore the use of Bayesian methods in this area. Objectives This ...

Articulate the primary interpretations of probability theory and the role these interpretations play in Bayesian inference Use Bayesian inference to solve real-world statistics and data science ...