You are the CEO of a small financial forecasting company. You have decided to adopt a Bayesian approach to data analysis and modelling. When you announce this new policy, your staff are unhappy and unconvinced, as they are used to a NHST approach. You stress that the Bayesian approach has several key advantages, including which of the following.
A. You can evaluate the likelihood of the null hypothesis being true.
B. You can evaluate statistical significance using p-values.
C. You can reject null hypotheses without any data collection.
D. You can evaluate complex statistical models without data.
Answer: A
You might also like to view...
Families are not static
Indicate whether the statement is true or false
Reducing __________environments is especially important for children from culturally and linguistically diverse backgrounds
Fill in the blank(s) with correct word
Jace's health situation is precarious. He has a chronic health problem that results in limited strength, vitality, and alertness, which subsequently has a negative impact on his academic performance. Jace has a(n)
A) immune deficiency allergy. B) orthopedic disability. C) physical disability. D) health disability.
Eight-year-old Julie lives in a rural area where many people are farmers or in some other way make their living through agriculture. After a lengthy summer drought, it begins to rain heavily one day in late July. "Thank goodness!" Julie hears her father exclaim. "Our prayers have finally been answered!" Julie makes a mental note of the cause–effect relationship her father has implied—in
particular, that prayer can lead to rain. This situation illustrates Vygotsky's belief that: a. Adults pass along to children the ways in which their culture interprets events. b. Children's level of potential development is always a bit higher than their actual developmental level. c. Children acquire more knowledge and skills when scaffolding is kept to a minimum. d. Thought and language are distinct processes in the early years of life.