Bayesian Theory (Wiley Series in Probability and Statistics)

by JoséM.Bernardo (Author), Adrian F . M . Smith (Author)

• New

  Paperback
  2000

  $76.07

  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.