11.4 Bayesian Theory
Welcome to the section that will take you on a journey to explore the fascinating world of Bayesian theory. If you've ever found yourself pondering questions like, "What's the probability of this treatment being effective for a new patient given its past results?" or "What are the chances of it raining tomorrow based on today's weather patterns?" then you're already thinking like a Bayesian!
Bayesian theory is a powerful tool that provides a framework to update probabilities based on new evidence. This means that you can make more informed decisions based on the latest information available. In today's fast-paced world, where information is constantly changing, having the ability to update your probabilities is a vital skill to have.
Let's delve into the world of Bayesian theory and unlock its full potential. Together, we will explore the various applications of Bayesian theory and learn how to use it to solve complex...