Bayesian Theory and Methods with Applications

This book explores the use of Bayesian analysis in the statistical estimation of the unknown phenomenon of interest. The contents demonstrate that where such methods are applicable, they offer the best possible estimate of the unknown.

Bayesian methods are growing more and more popular, finding new practical applications in the fields of health sciences, engineering, environmental sciences, business and economics and social sciences, among others. This book explores the use of Bayesian analysis in the statistical estimation of the unknown phenomenon of interest. The contents demonstrate that where such methods are applicable, they offer the best possible estimate of the unknown. Beyond presenting Bayesian theory and methods of analysis, the text is illustrated with a variety of applications to real world problems.

A rigorous analytical development of Bayesian methodology A procedural approach to using Bayesian theory to characterize real world problems The usefulness and relevance of Bayesian method is illustrated by analyzing various real world problems Includes supplementary material: sn.pub/extras