blueeyes_11

What is a Bernoulli process? Elaborate with an example.

A lengthy description would be greatly appreciated.

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themask

A binary valued, discrete-time random process defined on an index set corresponding to fixed increments in time. A typical example is a sequence of coin tosses where the values of the process are denoted as “Heads” or “Tails” depending on the outcome of the tosses. The output values of the process is a sequence of statistically independent random variables with the same probability distribution. The two outcomes may or may not have equal probabilities.

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brandonflowers

An interesting thing to do in almost any parametric probability model is to randomize one or more of the parameters. Done in a clever way, this often leads to interesting new models and unexpected connections between models. In this section we will randomize the success parameter in the Bernoulli trials process.

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