What is fundamentally different about Bayesian statistics li

What is fundamentally different about Bayesian statistics, list three differences and explain why each matters

Solution

Diffrences between frequentist statistics and Bayesian statistics:

1.

In frequentist statistics, populaiton parameters are fixed quantities while in Bayesian statistics the true value of a populaiton parameter is a random variable, a probability distribution will be assigned to this random variables according to prior information available.

2.

In frequentist statistics, generally reseachers have to rely on large sample approximations by assuming asymptomatic normality while in Bayesian statistics inferences can be computed exactly (even if the situatiosn are highly complex).

3.

In Bayesian analysis reseacher synthesises both sample data (which is expressed as the likelihood function) and the prior distribution of random variable.