#112 Advanced Bayesian Regression, with Tomi Capretto

Proudly sponsored by PyMC Labs, the Bayesian Consultancy. Book a call, or get in touch!My Intuitive Bayes Online Courses1:1 Mentorship with meOur theme music is « Good Bayesian », by Baba Brinkman (feat MC Lars and Mega Ran). Check out his awesome work!Visit our Patreon page to unlock exclusive Bayesian swag ;)Takeaways:Teaching Bayesian Concepts Using M&Ms: Tomi Capretto uses an engaging classroom exercise involving M&Ms to teach Bayesian statistics, making abstract concepts tangible and intuitive for students.Practical Applications of Bayesian Methods: Discussion on the real-world application of Bayesian methods in projects at PyMC Labs and in university settings, emphasizing the practical impact and accessibility of Bayesian statistics.Contributions to Open-Source Software: Tomi’s involvement in developing Bambi and other open-source tools demonstrates the importance of community contributions to advancing statistical software.Challenges in Statistical Education: Tomi talks about the challenges and rewards of teaching complex statistical concepts to students who are accustomed to frequentist approaches, highlighting the shift to thinking probabilistically in Bayesian frameworks.Future of Bayesian Tools: The discussion also touches on the future enhancements for Bambi and PyMC, aiming to make these tools more robust and user-friendly for a wider audience, including those who are not professional statisticians. Chapters:05:36 Tomi's Work and Teaching10:28 Teaching Complex Statistical Concepts with Practical Exercises23:17 Making Bayesian Modeling Accessible in Python38:46 Advanced Regression with Bambi41:14 The Power of Linear Regression42:45 Exploring Advanced Regression Techniques44:11 Regression Models and Dot Products45:37 Advanced Concepts in Regression46:36 Diagnosing and Handling Overdispersion47:35 Parameter Identifiability and Overparameterization50:29 Visualizations and Course Highlights51:30 Exploring Niche and Advanced Concepts56:56 The Power of Zero-Sum Normal59:59 The Value of Exercises and Community01:01:56 Optimizing Computation with Sparse Matrices01:13:37 Avoiding MCMC and Exploring Alternatives01:18:27 Making Connections Between Different ModelsThank you to my Patrons for making this episode...