Daffodil International University

Faculties and Departments => Business Administration => Business & Entrepreneurship => BBA Discussion Forum => Topic started by: yahya on March 04, 2013, 01:30:30 PM

Title: Bayesian inference
Post by: yahya on March 04, 2013, 01:30:30 PM

In statistics, Bayesian inference is a method of inference in which Bayes' rule is used to update the probability estimate for a hypothesis as additional evidence is learned. Bayesian updating is an important technique throughout statistics, and especially in mathematical statistics: For some cases, exhibiting a Bayesian derivation for a statistical method automatically ensures that the method works as well as any competing method. Bayesian updating is especially important in the dynamic analysis of a sequence of data. Bayesian inference has found application in a range of fields including science, engineering, medicine, and law.

Thoughts and inputs would be appreciated.