Bayesian statistics | bayesian
BayesianstatisticsisatheoryinthefieldofstatisticsbasedontheBayesianinterpretationofprobabilitywhereprobabilityexpressesadegreeofbeliefinanevent.Thedegreeofbeliefmaybebasedonpriorknowledgeabouttheevent,suchastheresultsofpreviousexperiments,oronpersonalbeliefsabouttheevent.Thisdiffersfromanumberofotherinterpretationsofprobability,suchasthefrequentistinterpretationthatviewsprobabilityasthelimitoftherelativefrequencyofaneventaftermanytrials.[1]BayesianstatisticalmethodsuseBayestheoremtocomputean...
Bayesian statistics is a theory in the field of statistics based on the Bayesian interpretation of probability where probability expresses a degree of belief in an event. The degree of belief may be based on prior knowledge about the event, such as the results of previous experiments, or on personal beliefs about the event. This differs from a number of other interpretations of probability, such as the frequentist interpretation that views probability as the limit of the relative frequency of an event after many trials.[1]
Bayesian statistical methods use Bayes theorem to compute and update probabilities after obtaining new data. Bayes theorem describes the conditional probability of an event based on data as well as prior information or beliefs about the event or conditions related to the event [2][3]. For example, in Bayesian inference, Bayes theorem can be used to estimate the parameters of a probability distribution or statistical model. Since Bayesian statistics treats pr...