Description: Article from the Expanding Horizons Newsletter, Issue 26, published in April 2003 that introduces guest editor, Virginia (Jenny) Young. Jenny talks about the primary functions of the Education and Research (E&R) Section Council.

Description: This is the abstract of a paper that presents a Bayesian model for analyzing time-dependent data. The model allows for the possibility of a shift in the level and/or a shift in the variance of the process at all time points. An example of simulated data will be shown as well as the results of four macroeconomic time series data: inflation, interest, unemployment, and wage. The fitted data of the model is compared against the actual through the use of prediction intervals and the creation of a new measure, called the 'modified Akaike Information Criterion'.