Mastering pandas - Second Edition

How the model is defined

From the model definition point of view, frequentists analyze how data and calculated metrics vary by making use of repeated experiments while keeping the model parameters fixed. Bayesians, on the other hand, utilize fixed experimental data, but vary their degrees of belief in the model parameters. This is explained as follows:

• Frequentists: If the models are fixed, data varies.
• Bayesians: If the data is fixed, models vary.

The frequentist approach is to use what is known as the maximum likelihood method to estimate model parameters. It involves generating data from a set of independent and identically distributed observations and fitting the observed data to the model. The value of the model parameter that best ...