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Fitting distribution of variability in data
The estimation of model parameters is the domain of statistics, of which there are two main approaches: Bayesian and classical (AKA "frequentist"). At EpiX Analytics we choose an approach based on how closely they fit our problem and how easy they are to implement. This section offers an in-depth description of both methods, together with the Bootstrap – a classical statistics technique that can relax some of the restrictive assumptions of classical methods, and a comparison between the results of each method, which turn out to be very similar in most situations.
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