Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.

Circular statistics is a specialised subfield of statistics that focuses on analysing data points distributed on a circle. Unlike conventional linear statistics, circular data is characterised by ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...