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How can Bayesian models incorporate expert opinion when there's not as much data to analyze as we'd like to have?

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Final answer:

Bayesian models can incorporate expert opinion by using prior information to represent the available knowledge about a parameter before collecting data.

Step-by-step explanation:

Bayesian models can incorporate expert opinion when there's not as much data to analyze by using prior information. In Bayesian analysis, a prior distribution is used to represent the available knowledge about a parameter before collecting data. This prior distribution can be based on expert opinion or previous studies. By incorporating prior information, Bayesian models can provide higher certainty in parameter estimates.

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