You are the CEO of a sports performance 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 reject null hypotheses without any data collection.
B) You can evaluate statistical significance using p-values.
C) You can evaluate the likelihood of the null hypothesis being true.
D) You can evaluate complex statistical models without data.

Question

Quizplus · Accepted Answer

The Bayesian approach allows for evaluation of the likelihood of the null hypothesis being true, which is not possible with NHST. This is because Bayesian analysis allows for the incorporation of prior information and the updating of probabilities as new data is collected. A and D are not true statements, as data collection is still needed for both rejecting null hypotheses and evaluating complex statistical models, and B is associated with NHST rather than Bayesian analysis.

You Are the CEO of a Sports Performance Forecasting Company