Bayesian models

Bayesian models are a way of understanding uncertainty and making predictions based on evidence. They use Bayes' theorem, which combines prior knowledge (what we already know) with new data (observations) to update our beliefs about a situation. Think of it like adjusting your confidence in a weather forecast: if it was likely to rain (your prior belief) but then you see dark clouds (new evidence), you become more certain it will rain. This approach allows for continuous learning and adaption as more information becomes available, making Bayesian models particularly useful in various fields, including science, finance, and medicine.