tag:blogger.com,1999:blog-9959776.post3129779057970102327..comments2024-02-15T04:42:41.606+00:00Comments on James' Empty Blog: What's the difference between Bayesian and classical statisticsJames Annanhttp://www.blogger.com/profile/04318741813895533700noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9959776.post-36502318173597466292009-10-07T21:07:11.243+01:002009-10-07T21:07:11.243+01:00This Week In Petroleum
http://tonto.eia.doe.gov/oo...This Week In Petroleum<br />http://tonto.eia.doe.gov/oog/info/twip/twip.asp<br /><br />Seems to be trying to carefully and simply explain what it is doing and err, failing miserably?:<br /><br />"For example, for a 95-percent confidence level, we calculate a range of prices within which there is a 95-percent likelihood the delivered price for the commodity will fall (for the month the commodity goes to physical delivery). In other words, there is a 5 percent chance the price for that specific month) will fall outside of the 95 percent confidence interval."<br /><br />Maybe they have enough data to work on that the need to distinguish confidence intervals from credible intervals just isn't important.<br /><br />Just seemed like the sort of thing to make your blood boil so I thought I would share it ;)crandleshttps://www.blogger.com/profile/15181530527401007161noreply@blogger.com