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

Business, like many other fields, can benefit from the use of statistics in estimating or predicting future events. An important tool for business statistics is a confidence interval, which helps a ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

The number needed to treat, that is, the average number of patients a clinician needs to treat with a particular therapy to prevent one bad outcome,1 is a translation into clinical terms of the ...

Geoff Cumming receives funding from the Australian Research Council. Such research findings sound exciting because the word significant suggests important and large. But researchers often use the word ...

In cohort studies with common outcomes, the odds ratio estimated from a logistic regression analysis is often interpreted as an indirect estimate of the risk ratio. In such settings, the odds ratio ...