Bayesian Information Criterion (BIC)
\ Bayesian \ ˌɪnfərˈmeɪʃən \ kraɪˈtɪriən \ (bɪk) \
A goodness of fit model often used in longevity modelling.
The BIC is a similar statistic to the Akaike Information Criterion, which captures the goodness of fit via the (log-) likelihood (i.e. a measure of how likely the observed data is under the fitted model), with a different form of penalty based upon the number of variables used (i.e. to avoid “over-fitting” to the data).