Bayesian Statistics
Timothy E. Essington
Abstract
Timothy E. Essington
Abstract
Abstract The chapter “Bayesian Statistics” gives a brief overview of the Bayesian approach to statistical analysis. It starts off by examining the difference between frequentist statistics and Bayesian statistics. Next, it introduces Bayes’ theorem and explains how the theorem is used in statistics and model selection, with the prosecutor’s fallacy given as a practice example. The chapter then goes on to discuss priors and Bayesian parameter estimation. It concludes with some final thoughts on Bayesian approaches. The chapter does not answer the question “Should ecologists become Bayesian?” However, to the extent that alternative models can be posed as alternative values of parameters, Bayesian parameter estimation can help assign probabilities to those hypotheses.
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Abstract The chapter “Bayesian Statistics” gives a brief overview of the Bayesian approach to statistical analysis. It starts off by examining the difference between frequentist statistics and Bayesian statistics. Next, it introduces Bayes’ theorem and explains how the theorem is used in statistics and model selection, with the prosecutor’s fallacy given as a practice example. The chapter then goes on to discuss priors and Bayesian parameter estimation. It concludes with some final thoughts on Bayesian approaches. The chapter does not answer the question “Should ecologists become Bayesian?” However, to the extent that alternative models can be posed as alternative values of parameters, Bayesian parameter estimation can help assign probabilities to those hypotheses.
Key concepts: Frequentist inference, Bayesian statistics, Bayes factor, Bayesian probability, Prior probability, Bayesian econometrics, Bayesian linear regression, Bayesian average