What is Bayesian analysis? - Stata

Bayesian analysis is a statistical paradigm that answers research questions about unknown parameters using probability statements. For example, what is the ... Stata/MP4AnnualLicense(download) $995.00 Checkout Continueshopping Stata:DataAnalysisandStatisticalSoftware     PRODUCTS Stata WhyStata Features NewinStata17 Disciplines Stata/MP WhichStataisrightforme? Supportedplatforms Bookstore StataPressbooks BooksonStata Booksonstatistics StataJournal StataPress GiftShop PURCHASE OrderStata Requestaquote PurchasingFAQs Bookstore StataPressbooks BooksonStata Booksonstatistics StataJournal GiftShop LEARN NetCourses Classroomandwebtraining On-sitetraining Webinars Videotutorials Third-partycourses Webresources TeachingwithStata SUPPORT Ready.Set.GoStata. InstallationGuide Updates FAQs Documentation RegisterStata Technicalservices Policy Contact COVID-19ResourceHub Videotutorials Freewebinars Publications Bookstore StataJournal StataNews AuthorSupportProgram EditorSupportProgram TeachingwithStata Examplesanddatasets Webresources Training StataConferences 2022StataConference Upcomingmeetings Proceedings TheStataBlog Statalist Socialmedia Emailalerts Disciplines COMPANY Announcements StataCorp Contactus Hoursofoperation Customerservice RegisterStataonline Changeregistration Changeaddress SubscribetoStataNews Subscribetoemailalerts Internationalresellers Careers Oursites Statalist TheStataBlog StataPress StataJournal Advancedsearch  Purchase Products Training Support Company   » Home» Products» Features» WhatisBayesiananalysis? ORDERSTATA WhatisBayesiananalysis? WhatisBayesiananalysis? Bayesiananalysisisastatisticalparadigmthatanswersresearchquestions aboutunknownparametersusingprobabilitystatements. Forexample,whatistheprobabilitythattheaveragemaleheightisbetween 70and80inchesorthattheaveragefemaleheightisbetween60and70 inches?Whatistheprobabilitythatpeopleinaparticularstatevote RepublicanorvoteDemocratic?Whatistheprobabilitythatapersonaccusedof acrimeisguilty?WhatistheprobabilitythattreatmentAismorecost effectivethantreatmentBforaspecifichealthcareprovider?Whatisthe probabilitythatapatient'sbloodpressuredecreasesifheorsheisprescribed drugA?Whatistheprobabilitythattheoddsratioisbetween0.3and0.5? Whatistheprobabilitythatthreeoutoffivequizquestionswillbeanswered correctlybystudents?Whatistheprobabilitythatchildren withADHDunderperformrelativetootherchildrenonastandardizedtest? Whatisthe probabilitythatthereisapositiveeffectofschoolingonwage?Whatisthe probabilitythatexcessreturnsonanassetarepositive?Andmanymore. SuchprobabilisticstatementsarenaturaltoBayesiananalysisbecauseofthe underlyingassumptionthatallparametersarerandomquantities.InBayesian analysis,aparameterissummarizedbyanentiredistributionofvalues insteadofonefixedvalueasinclassicalfrequentistanalysis. Estimatingthisdistribution,aposteriordistributionofaparameterof interest,isattheheartofBayesiananalysis. Aposteriordistributioncomprisesapriordistributionabouta parameterandalikelihoodmodelprovidinginformationaboutthe parameterbasedonobserveddata.Dependingonthechosenprior distributionandlikelihoodmodel,theposteriordistributioniseither availableanalyticallyorapproximatedby,forexample,oneofthe MarkovchainMonteCarlo(MCMC)methods. Bayesianinferenceusestheposteriordistributiontoformvarioussummaries forthemodelparameters,includingpointestimatessuchasposteriormeans, medians,percentiles,andintervalestimatesknownascredibleintervals. Moreover,allstatisticaltestsaboutmodelparameterscanbeexpressedas probabilitystatementsbasedontheestimatedposteriordistribution. UniquefeaturesofBayesiananalysis includeanabilitytoincorporatepriorinformationintheanalysis,an intuitiveinterpretationofcredibleintervalsasfixedrangestowhicha parameterisknowntobelongwithaprespecifiedprobability,andanability toassignanactualprobabilitytoanyhypothesisofinterest. TolearnmoreaboutBayesiananalysis,see[BAYES]intro.AlsoseeaquickoverviewofBayesianfeatures. Stata NewinStata WhyStata? Allfeatures Featuresbydisciplines Stata/MP WhichStataisrightforme? OrderStata Shop OrderStata Bookstore StataPressbooks StataJournal GiftShop Support Training Videotutorials FAQs Statalist:TheStataForum Resources Technicalsupport Customerservice Company Contactus Customerservice Announcements Search ©Copyright1996–2022StataCorpLLC   •   Termsofuse   •   Privacy   •   Contactus × 2022StataConference 4-5August|Washington,DC|Registernow