My last two blogs have introduced Bayes theorem as an important probability maxim for business decision-making, and have also discussed the evolving role of the Bayesian approach in modern statistics.
For many reasons, not the least of which is the demand for new statistical techniques and the ascendance of computation in the field, the use of Bayesian methods is on the rise. The Frequentist/Bayesian wars that marked my statistical studies seem an artifact of the past.
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