Archives for Bayesian approach
The Bayesian approach is used to analyze the data and update the beliefs based on data. Monte Carlo Markov Chain is a method that stimulates high dimensional probability distribution for Bayesian inference.
traditional MMS are not much eligible to equip the hard data with prior knowledge. The simple models are defined with the parameters which are independent of each other. Bayesian MMMs can be eligible to deal with such hard data.
traditional MMS are not much eligible to equip the hard data with prior knowledge. The simple models are defined with the parameters which are independent of each other. Bayesian MMMs can be eligible to deal with such hard data.