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Hayes concept
Message posted by R. McWhirter on December 20, 1999 at 12:00 AM (ET)
I was discussing median, mean etc with a board member and they talked about the hayes (I think that is how you spell it) stats. What is this, I have not heard of it. Thanks for the input.
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Re: Hayes concept
Message posted by JG on December 21, 1999 at 12:00 AM (ET)
You are probably talking about Baye's theorem and Bayesian statistics. Baye's theorem deals with conditional probability and Bayesian statistics assumes that a 'prior' probability is available for whatever is being estimated. B
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