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:
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:
We will also review some material from Chapter 2.