Jim Daniel's STAM Seminar Excerpts

The Billy Problem: what both the Bayesian approach and the credibility approach seek to solve




The Billy Problem: what both the Bayesian approach and the credibility approach seek to solve describes what I like to call The Billy Problem--- the problem that both the Bayesian and credibility approaches seek to solve, which is one of updating one's expectations about a random variable by using observed data.. It contains about 2 pages of text. Here is the table of contents:

  • 1.1 Updating expectations: The Billy Problem
    • 1.1.1 The Bayesian approach
    • 1.1.2 The credibility approach

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