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Chunk #32 — Bayesian estimation using a Markov chain Monte Carlo algorithm

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Variance decomposition using an IRT measurement model.
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In the Bayesian approach, inference is based on the posterior density of the model parameters, P(η|Y), where η represents the vector of model parameters and Y the observed data. By Bayes’ rule, the density P(η|Y) is proportional to the product of the likelihood of the data given the model parameters P(Y|η) and the marginal density for η, P(η), that is,