You Are the CEO of a Small Financial Forecasting Company

Multiple Choice

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.