ABSTRACT: Singh, Gewali, and Khatiwada proposed a skewness measure for probability distributions called Area Skewness (AS), which has desirable properties but has not been widely applied in practice.

Bayes' Theorem, named after 18th-century British mathematician Thomas Bayes, is a mathematical formula for determining conditional probability. Conditional probability is the likelihood of an ...

Prior elicitation refers to the process of transforming the knowledge of a particular domain into well-defined probability distributions. Specifying useful priors is a central aspect of Bayesian ...