What Role Does New Data Play In Bayesian Updating?
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YouTubeThe Friendly Statistician
What Role Does New Data Play In Bayesian Updating?
Bayesian statistics is a powerful tool for updating our beliefs with new information. But how exactly does new data fit into this framework, and why is it so crucial? This video dives into the dynamic process of Bayesian updating. In this explanation, you'll learn: The fundamental concept of how new data transforms prior beliefs into posterior ...
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