Revising opinions in statistics: Difference between revisions
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{{AfDM|page=Revising opinions in statistics|logdate=2009 June 5|substed=yes }} | |||
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Researchers who use [[personal probability]] can proceed as follows: | Researchers who use [[personal probability]] can proceed as follows: | ||
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==See also== | ==See also== | ||
*[[ | *[[Statistical theory]] | ||
*[[ | *[[Statistics]] | ||
[[Category:Bayesian statistics]] | [[Category:Bayesian statistics]] | ||
Latest revision as of 20:19, 5 June 2009
Researchers who use personal probability can proceed as follows:
- A statistical model for the data generating process is assumed. The model might specify that the data follows a normal distribution with an unknown mean.
- The researcher describes his opinion of a prior distribution for the unknown parameters of the model. So the prior distribution of the unknown mean might be a normal distribution centered at 10 with a standard deviation of 2.
- The data is then observed, and with the likelihood function of the observed data and the probabilistic description of his opinion, the researcher can calculate (using Bayes' theorem) the appropriate opinion consistent with both sources of information. This is called the posterior distribution.