- #1
Winzer
- 598
- 0
Suppose I have a regular quarter and I had to guess heads or tails. I have a 50% chance of getting heads or tails. After I flip it say I get the result: heads. If it is to be flipped a second time, classically I would say I still have a 50% chance pf getting heads or tails. However, from Bayesian statistics I was told that I should lean more towards tails.
Why?
Apparently Bayesian statistics accounts for subjective probability. Being born and raised on classical stats "subjective" and "probability" should not be together. Could someone give me some clear reasoning on Bayesian stats?
Why?
Apparently Bayesian statistics accounts for subjective probability. Being born and raised on classical stats "subjective" and "probability" should not be together. Could someone give me some clear reasoning on Bayesian stats?