On Estimating the Mean In Bayesian Factor Analysis
Daniel B. Rowe · CaltechAUTHORS (California Institute of Technology) · 2000
In the Bayesian factor analysis model (Press & Shigemasu, 1989), the sample size was assumed to be large enough to estimate the overall population mean by the sample mean. In this paper, the procedure of estimating the population mean by the sample mean is compared to estimating it along with the other parameters both by Gibbs sampling and Iterated Conditional Modes. Results show that even in small samples, the Gibbs sampling and iterated conditional modes estimates of the mean are for practical purposes identical to the sample mean. Thus, the population mean is adequately estimated by its sample value.