Discover how credibility theory helps actuaries use historical data to estimate risks and set insurance premiums; learn how ...

A team of international physicists has brought Bayes’ centuries-old probability rule into the quantum world. By applying the “principle of minimum change” — updating beliefs as little as possible ...

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Abstract: The recent Corona virus 2019 and Monkeypox 2022 diseases, have manifested the fully unpredictable character of global pandemics as to time and geography where the outbreak begins. Despite of ...

Copyright: © 2024 Elsevier Ltd. All rights are reserved, including those for text and data mining, AI training, and similar technologies. Frequentist and Bayesian ...

Sales of used cars in the U.S. increased significantly in 2021, while the average price of a used car spiked in 2022. In recent years, the used car market has been impacted by the increase in the life ...

Teen drivers account for 9.1% of all motor vehicle crashes and 6.1% of fatal crashes, despite comprising only 3.7% of all U.S. drivers. In 2022 alone, there were 3,212 fatal crashes among teens ages ...

Bayes’s core contribution, which Chivers skillfully renders into cogent prose designed to educate the lay reader, is the notion that the likelihood of an event taking place in the future depends, in ...

First articulated in the 18th century by a hobbyist-mathematician seeking to reason backward from effects to cause, Bayes’ theorem spent the better part of two centuries struggling for recognition and ...