For this month, I continued to complete books that I started. As a result, I continued to complete the book called An Introduction to Bayesian Inference and Decision. I finished the Chapter 2 exercises and continued into Chapter 3, completing 18 of 60 exercises. The material from Chapter 3 starts information about discrete random variables, expectation, variance, probability mass function, continuous distribution function, joint probability distributions, conditional probabilities and the Laws of Expectation. The next section introduces terms such as prior probabilities, likelihood, and posterior probabilities as an introduction to bayesian inference. Basically Bayes Theorem is mechanism to update probabilities when new information is available. As additional information or samples are collected, then prior probability distributions are updated to generate revised probability distributions.
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