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 ...

The beauty of Bayesian sensors is that they can make your Home Assistant automations much more accurate. If your cat does sometimes set off your motion sensor, for example, you can't rely on the ...

Nate Silver, baseball statistician turned political analyst, gained a lot of attention during the 2012 United States elections when he successfully predicted the outcome of the presidential vote in ...

Having a strong opinion about an issue can make it hard to take in new information about it, or to consider other options when they’re presented. Thankfully, there’s an old rule that can help us avoid ...