Uses of Bayesian Statistics

Uses of Bayesian Statistics

Bayesian statistics has a wide variety of possible uses, some of which are described below. Spacecraft Pointing Errors Satellites have co...

Advantages of Bayesian statistics

Advantages of Bayesian statistics

Bayesian methods are increasingly popular due to the advantages they offer over frequents statistical methods: •  A Bayesian analysis prov...

What is Bayesian Statistics?

What is Bayesian Statistics?

The essence of Bayesian methods is a mathematical rule explaining how you should change your existing beliefs in the light of new evidence...

Stochastic Processes

Stochastic Processes

Definition:   A stochastic process is a family of random variables {X t }, where t takes values in the index set T (Sometimes called a pa...

Different Types of Stochastic process

Different Types of Stochastic process

  Independent Stochastic Sequence (Discrete time process) Renewal process (Discrete time process) Independent increment process(Continuous...

Experiment

Experiment

An experiment is any process or study which results in the collection of data, the outcome of which is unknown. In statistics, the term is u...