How to Use Bayesian Methods for Accurate Financial Forecasting

Learn to apply Bayes' theorem in financial forecasting for insightful, updated predictions. Enhance decision-making with ...
Inverse

Make Better Decisions With Bayesian Probability, the Smart Way to Consider Risk

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 ...
Scientific American

What is Bayes's theorem, and how can it be used to assign probabilities to questions such as the existence of God? What scientific value does it have?

Chris Wiggins, an associate professor of applied mathematics at Columbia University, offers this explanation. A patient goes to see a doctor. The doctor performs a test with 99 percent ...
ISA

Bayesian analysis improves functional safety

Functional safety engineers follow the ISA/IEC 61511 standard and perform calculations based on random hardware failures. These result in very low failure probabilities, which are then combined with ...
The Conversation

Bayes’ Theorem: the maths tool we probably use every day, but what is it?

Mike Lee receives relevant research funding from the Australian Research Council, the Australia-Pacific Science Foundation, and Flinders University. Benedict King receives funding from the Australian ...