TedM

Amaleq and I are discussing the reliability of using to predict the probability of an individual's behavior when specific information about the individual is not known. I came up with a theoretical example to help illustrate various points about the value of using statistices in this way, but am not sure my reasoning is accurate. Anyone with a statistics background is welcome to set me straight. The posts begin here: http://www.iidb.org/vbb/showthread.p...28#post2750313


ted

Jehanne

Actuarial science and Bayesian probabilities. (I am not an expert in either, by the way, but I have seen examples of how they are used in the insurance industry.) More here:

http://www.bayesian.org/
http://mathworld.wolfram.com/topics/...tatistics.html

TedM

Thanks. I took a look and must say that it is all a bit much for me. I didn't realize that Baysian analysis was controversial due to subjectivity. I wonder now if my position is right or wrong only according to different methods of analysis??