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Decision Based Design
book

Decision Based Design

by Vijitashwa Pandey
August 2013
Intermediate to advanced content levelIntermediate to advanced
284 pages
11h 23m
English
CRC Press
Content preview from Decision Based Design
170 Decision Based Design
Here
()fx
X
is the prior distribution and
()fx
X
is the posterior distribution of the
variable X, while
(|)fdx
D
is the likelihood of getting the data D (e.g., n successes
out of m trials) given the prior distribution of X. Many times we try to assess the
probability distribution of the relative frequency (probability) of an event, for
example, the probability of a tornado hitting a town given its path a few days
prior. The Bayesian method can help make a decision when data are scarce. On
the other hand, if the prior knowledge is incorrect, it can corrupt even good
information coming in the form of data. Priors therefo ...
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Publisher Resources

ISBN: 9781439882320