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Bayesian inference is a method of statistical inference that relies on treating the model parameters as random variables and applying Bayes' theorem to deduce subjective probability statements about the parameters or hypotheses, conditional on the observed dataset.
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Explanation of an example of the Bayes Estimator
In section 4.4 of 'Introduction for Machine Learning' by Ethem Alpaydin the following example of estimating a prior density us given:
For example let us say that we are told that [the random vari …