Jim Daniel's STAM Seminar Excerpts

The Bayesian approach to updating expectations




The Bayesian approach to updating expectations describes the Bayesian approach to updating one's expectations about a random variable by using observed data. It contains about 10 pages of text. Here is the table of contents:

  • 1.1 Updating expectations: The Billy Problem
  • 1.2 The Bayesian approach with discrete-type random variables
  • 1.3 The Bayesian approach with continuous-type random variables
    • 1.3.1 The Binomial (or event) and Beta model
    • 1.3.2 The Poisson and Gamma model
    • 1.3.3 The Exponential and (Inverse) Gamma model
  • 1.4 Estimating Billy's risk parameter

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