Sometimes it is useful to incorporate subjective information into a mathematical model. This can be done based on intuition, experience, or expert opinion, or based on convenience of mathematical form. Bayesian statistics provides a theoretical framework for incorporating such subjectivity into a rigorous analysis: we specify a prior probability distribution (which can be subjective), and then update this distribution based on empirical data.
Sometimes it is useful to incorporate subjective information into a mathematical model. This can be done based on intuition experience, or expert opinion, or based on convenience of mathematical form. Bayesian statistics provides a theoretical framework for incorporating such subj,ectivity into a rigorous analysis: we specify a prior probability distribution (w,hich can be subjective) and then update this distribution based on empirical data.