Data Smart week 3, Bayes

This week we will cover the practical application of Bayesian statistics. Bayesian statistics is frequently and centrally used in medical, psychology, sociology and other analysis areas.

This is a very timely topic, because a NEO'er is currently on a Jeopardy winning streak, using controversial methods that he developed using a Data Science like approach. He developed a strategy based on game theory and informal statistics. It looks strange and controversial to the audience, but he keeps winning. He explains it here:

http://hereandnow.wbur.org/2014/02/04/jeopardy-arthur-chu

Mr Chu mentions that getting 'daily doubles' is a key part of his strategy.

The IBM Watson computer Jeopardy champion used Bayesian statistics to guess which square the daily double was likely to be on:

http://arxiv.org/ftp/arxiv/papers/1402/1402.0571.pdf

We will also review some material from Chapter 2.