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 ...

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 ...

Given a few assumptions, the probability of a conjunction is raised, and the probability of its negation is lowered, by conditionalising upon one of the conjuncts. This simple result appears to bring ...

For finite parameter spaces, among decision procedures with finite risk functions, a decision procedure is extended admissible if and only if it is Bayes. Various relaxations of this classical ...