Have you heard of a #Bayesian credible interval?
One of the cool things Bayesian does is generate a credible interval. π§΅
#datascience #rstats #python
One of the cool things Bayesian does is generate a credible interval. π§΅
#datascience #rstats #python
A credible interval is a Bayesian version of a confidence interval that takes into account the posterior distribution...
The posterior is determined from Markov Chain Monte Carlo (MCMC) sampling...
What does this mean?
The posterior is determined from Markov Chain Monte Carlo (MCMC) sampling...
What does this mean?
We have a better estimate of the true confidence region.
The distribution more closely matches the true distribution (versus a Frequentist confidence interval).
The distribution more closely matches the true distribution (versus a Frequentist confidence interval).
Want to learn more about Bayesian for Business Analytics?
I have a free Bayesian for Business workshop tomorrow where I'll go through a FULL Bayesian analysis on customer offers...
I have a free Bayesian for Business workshop tomorrow where I'll go through a FULL Bayesian analysis on customer offers...
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