Bayesian Statistics

Giorgio Picci
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Giorgio Picci: University of Padua, Department of Information Engineering

Chapter 6 in An Introduction to Statistical Data Science, 2024, pp 205-272 from Springer

Abstract: Abstract In this chapter we address the Bayesian approach to statistical inference. This approach, unlike the classical Fisherian (or Frequentist) approach, assumes that there is an a priori information of probabilistic nature about the variable θ $$ \theta $$ which is the object of the statistical inference problem. making it a random variable which, by its very nature, cannot be assigned an exact numerical value. Many problems in econometrics and engineering have a natural formulation in the Bayesian context.

Date: 2024
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DOI: 10.1007/978-3-031-66619-3_6

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