: The posterior; the probability of the hypothesis (e.g. that a parameter has a certain value) given the data: The likelihood of observing/generating the data given the hypothesis: The prior ...

Statistics is a branch of math that involves the collection, description, analysis, and inference of conclusions from quantitative data. But what is a statistic? Let’s find out. The word statistic is ...

Statistics has moved beyond the frequentist-Bayesian controversies of the past. Where does this leave our ability to interpret results? I suggest that a philosophy compatible with statistical practice ...

This online data science specialization is designed to provide you with a solid foundation in probability theory in preparation for the broader study of statistics. The specialization also introduces ...

ECONOMISTS develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “What Are Economic Models,” F&D, ...

In recent years, a need for compact representations of databases has become apparent, for example in natural language understanding, machine learning, and decision making, accompanied by a need for ...

Measurement error models address the deviation between observed and true values, thereby refining the reliability of statistical inference. These frameworks are ...