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