Seeing Theory - Basic Probability
According to the central limit theorem, proven in 1810 by Pierre-Simon Laplace, any such random process—one that amounts to a sum of a large number of coin flips—will lead to the same probability distribution, called the normal distribution (or bell-shaped curve). The Galton board is simply a visual demonstration of Laplace’s theorem.
Dana Mackenzie • The Book of Why: The New Science of Cause and Effect
In a nutshell, the way I have understood it, given a specific set of data, the frequentist believes that there is a true, underlying distribution from which said data was generated. The inability to get the exact parameters is a function of finite sample size. The Bayesian, on the other hand, think that we start with some assumption about the... See more