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Activity Number:
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41
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Type:
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Invited
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Date/Time:
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Sunday, August 2, 2009 : 4:00 PM to 5:50 PM
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Sponsor:
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Section on Statistical Education
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| Abstract - #303027 |
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Title:
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Teaching Bayesian Statistics to Marketing and Business Students
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Author(s):
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Greg Allenby*+
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Companies:
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The Ohio State University
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Address:
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2100 Neil Ave., Columbus, OH, 43210,
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Keywords:
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bayesm package ; hierarchical models ; posterior inference ; R software
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Abstract:
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We discuss our experiences teaching Bayesian Statistics to students in doctoral programs in business. These students often have weak backgrounds in mathematical statistics and a predisposition against likelihood-based methods stemming from prior exposure to econometrics. This can be overcome by an intense course which emphasizes the value of the Bayesian approach to solving non-trivial problems. The success of our course is primarily due to the emphasis on statistical computing. This is facilitated by our R package, bayesm, which provides efficient implementation of advanced methods and models.
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