What is Bayesian statistics in Python?

What is Bayesian statistics in Python?

Bayesian statistics is a statistical paradigm that uses Bayes' theorem to update the probability of a hypothesis as more evidence becomes available. In Python, libraries like PyMC3 and PyStan facilitate Bayesian modeling.

How do I implement a simple Bayesian model in Python?

You can use the PyMC3 library to implement a simple Bayesian model. First, install it using pip, then define your model using the syntax provided in the documentation.

Can you give me an example of a Bayesian inference problem?

Sure! A classic example is estimating the probability of a coin being biased. You can model the prior belief about the coin's bias and update it with observed flips.

What are the advantages of using Bayesian methods?

Bayesian methods allow for incorporating prior knowledge, provide a natural way to handle uncertainty, and yield probabilistic interpretations of results.