Bayesian-statistics-Innovations

Bayesian-statistics-Innovations

Bayesian statistics is a system for describing epistemological uncertainty using the mathematical language of probability. In the 'Bayesian paradigm,' degrees of belief in states of nature are specified; these are non-negative, and the total belief in all states of nature is fixed to be one.  Bayesian inference is a method of statistical inference in which Bayes' theorem is used to update the probability for a hypothesis as more evidence or information becomes available. Bayesian inference is an important technique in statistics, and especially in mathematical statistics. Bayesian inference is a different perspective from Classical Statistics (Frequentist). For a Bayesian, probability is more epistemological. ... Posterior probability (in lay terms) is the updated belief on the probability of an event happening given the prior and the data observed.


Last Updated on: Nov 27, 2024

Global Scientific Words in Pharmaceutical Sciences