TeachMeFinance.com - explain Bayesian estimation
Bayesian estimation The term 'Bayesian estimation' as it applies to the area of nuclear science can be defined as ' A mathematical formulation, using Bayes' theorem, by which the likelihood of an event can be estimated taking explicit consideration of certain contextual features (such as amount of data, nature of decision, etc.). '.
About the author
Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.