Simplifying life through Bayes: hints for practitioners new to Bayesian inference

Title: Simplifying life through Bayes: hints for practitioners new to Bayesian inference
Creator: Tuyl, Frank; Howley, Peter
Relation: Quality Management Journal Vol. 23, Issue 2, p. 22-28
Relation: http://asq.org/pub/qmj/past/vol23_issue2/index.html
Publisher: American Society for Quality
Resource Type: journal article
Date: 2016
Description: This paper explains why it is important to understand Bayesian techniques and how they are advantageous, even at a fundamental level, over the more traditionally taught classical, or frequentist-based, statistical techniques. The authors provide a brief introduction to the Bayesian approach and present an example of a scenario exhibiting some of the beneficial properties of Bayesian methods, including insights gained from their application in industry to overcome classical statistics-based problems. This example shows how Bayesian methods enable straightforward incorporation of constraints that result in sensible estimates, compared with ad hoc, and at times misleading or useless, classical approaches.
Subject: binomial distribution; Taguchi loss function; variance components
Identifier: http://hdl.handle.net/1959.13/1329107
Identifier: uon:26073
Identifier: ISSN:1068-6967
Language: eng
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