Tag: Understanding Bayesian Inference

Introduction to Bayesian Statistics: Basic Concepts and Applications

Bayesian statistics is a mathematical approach that involves the application of probability (mostly conditional probability) to solve statistical problems. This approach involves initial “prior” beliefs (or probabilities) about an event which is updated when new evidence emerges through data collection. This results in ‘posterior’ beliefs which form the basis for Bayesian inferences. Often, people tend […]