Bayes - Medreonet
Bayes - Medreonet
Bayes - Medreonet
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Step 2. Likelihood functions<br />
The likelihood function calculates the probability of<br />
observing the data for a given value of the prior<br />
estimate of a parameter<br />
The shape of the likelihood function embodies the<br />
amount of information contained in the data<br />
If the information is limited, the likelihood function<br />
will be broadly distributed, whereas if the information<br />
is significant, the likelihood function will be tightly<br />
focused around a particular parameter value