Bayesian Statistics

Abstract

In this chapter, we explore an alternative interpretation of statistics – Bayesian statistics – and the methods associated with this interpretation. Bayesian statistics, in contrast to the frequentist’s statistics that we used in Chapter 13 and Chapter 14, treats probability as a degree of belief rather than as a measure of proportions of observed outcomes. This different point of view gives rise to distinct statistical methods that we can use in problem-solving. While it is generally true that statistical problems can in principle be solved using either frequentist or Bayesian statistics, there are practical differences that make these two approaches to statistics suitable for different types of problems.