So now, for statistically challenged individuals, I present my translation of Steve’s calculations, Bayesian math for dummies. The Problem Steve’s friend received a positive test for a disease. The disease occurs infrequently in the general population. The test accurately identifies people who have...
Causal Estimation methods for Machine learning and Data Science Part III – Instrument Variable Analysis 1.0 Introduction In the past two blogs of this series we’ve been discussing causal estimation, a very important subject in data science, we delved into causal estimation using regression method ...
We analyse the determinants of Japanese outward FDI stock for the period 1996–2017. • We select the covariates using Bayesian Model Averaging (BMA) analysis. • We analyse changes depending on the degree of development or geographical location. • Japan’s FDI is explained by gravity, ins...
While a frequentist confidence interval represents a range of nonrejectable values for null hypothesis significance testing of H0:θ1≤ −δ or θ2≥δ against H1:θ1 > −δ and θ2 < δ, with a predefined benchmark value δ, Bayesian analysis allows for direct interpretation of both ...
Firstly, analysis for the years earlier than 2014 (such as 2007) gave no economically reasonable results. The explanation comes from the fact that in Europe, some countries are very advanced in consuming energy from renewable sources. Still, there exists a number of countries that are rather ...