Bayesian Inference In R: Application In Real Life

Inference is the process of updating probabilities of outcomes based upon the relationship in the model and the evidence known about that situation at hand. Bayesian inference is a method of statistical inference which uses Bayes’ theorem to update probabilities for a hypothesis as more information becomes available. Beliefs originally encoded in the model are known as prior probabilities and those computed after new evidence are referred to as posterior probabilities. After inference, the updated probabilities reflect the new levels of belief.