joonro

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joonro

Gibbs Sampling for Bayesian Linear Regression

MCMC methods can be used to estimate linear regression models. In what follows, we derive the distributional forms and algorithms associated with two Gibbs sampling approaches: the full conditionals approach and the composition method.

The dataset is available here and represents refrigerator price as a function of available features. Our objective is to estimate PRICE as a function of ECOST, FSIZE, SHELVES and FEATURES, where:

• PRICE: Response, cost of refrigerator.