Bayesian Statistics

This book provides a basic introduction to statistics using the Bayesian approach and is specifically geared towards engineers and economists for bachelor level professional studies. The frequentist approach is also discussed. The author covers Bayesian statistics at a fundamental level and allows for a practical understanding of the basics. Following an introduction, the author discusses data, set theory and combinatorics. Next, this book covers probability, Bayes’ theorem, and stochastic variables. The author examines continuous probability distributions, discrete distributions, and other distributions. Also covered are point estimates, conjugate priors, and confidence intervals. This book contains a discussion of hypothesis testing and linear regression, and concludes with an epilogue.