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Bayesian Theory

Smith, Adrian F. M. Bernardo, Jose M.

Wiley Series in Probability and Statistics

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A controversial philosophical approach to statistics following the work of Rev Thomas Bayes (1701). To solve a problem or to make a decision, the Bayesian collects data from all possible theories and assigns a probability to them. This generates a prior distribution from which, workable parameters are determined and complex calculations are made.

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