- "**Note:** What is the prior? Really, what do we know about $p$ before we see any data? Well, as it is a probability, we know that $0≤p≤1$. If we haven’t flipped any coins yet, we don’t know much else: so it seems logical that all values of $p$ within this interval are equally likely, i.e., $P(p)=1$, for 0≤λ≤1. This is known as an uninformative prior because it contains little information (there are other uninformative priors we may use in this situation, such as the Jeffreys prior, to be discussed later). People who like to hate on Bayesian inference tend to claim that the need to choose a prior makes Bayesian methods somewhat arbitrary, but as we’ll now see, if you have enough data, the likelihood dominates over the prior and the latter doesn’t matter so much."
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