Application of the Bayesian Method in Statistical Modeling

Author:   Diana Mindrila
Publisher:   Mdpi AG
ISBN:  

9783725834990


Pages:   284
Publication Date:   01 July 2025
Format:   Hardback
Availability:   Available To Order   Availability explained
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Application of the Bayesian Method in Statistical Modeling


Overview

Bayesian statistics is a theory in the field of statistics based on the Bayesian interpretation of probability, where probability expresses a degree of belief in an event. Bayesian statistical methods use Bayes' theorem to compute and update probabilities after obtaining new data. Named after Thomas Bayes, Bayes' theorem (1973) describes the conditional probability of an event based on data, as well as prior information or beliefs about the event or conditions related to the event. This approach differs from other interpretations of probability, such as the frequentist interpretation, which views probability as the limit of the relative frequency of an event after many trials. During much of the 20th century, many statisticians viewed Bayesian methods unfavorably due primarily to practical considerations. Bayesian methods required much computation to complete, and the most widely used methods during the previous century relied on frequentist interpretation. However, with the advent of powerful computers and new algorithms, such as Markov chain Monte Carlo, Bayesian methods have seen increasing use within statistics in the 21st century. This Special Issue will raise awareness of the availability and applicability of Bayesian analyses. It includes a collection of theoretical and applied studies using Bayesian statistics and provides information on statistical software that allows the use of Bayesian estimation methods.

Full Product Details

Author:   Diana Mindrila
Publisher:   Mdpi AG
Imprint:   Mdpi AG
Dimensions:   Width: 17.00cm , Height: 2.20cm , Length: 24.40cm
Weight:   0.830kg
ISBN:  

9783725834990


ISBN 10:   3725834997
Pages:   284
Publication Date:   01 July 2025
Audience:   General/trade ,  General
Format:   Hardback
Publisher's Status:   Active
Availability:   Available To Order   Availability explained
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

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