Austrian economics veers sharply from the economic mainstream over the use of mathematics and quantitative measures. Instead, ...

Factor analysis: A statistical method for taking a massive data set and reducing it to a smaller, more manageable one to uncover hidden patterns — for example, for analyzing customer loyalty.

In this article, we develop a new algorithm based on a combination of the statistical Romberg method and the importance sampling technique. The statistical Romberg method introduced by Kebaier in (Ann ...

Statistical methods also predict the spread of infectious diseases, like COVID-19, helping governments implement timely preventive measures.