Bayesian Average Mean

The Bayesian average is a type of weighted average that incorporates prior knowledge or belief, in addition to the given data. This method is used when the data set is small, or when there is a need to prevent extreme values from skewing the results significantly. In the context of online ratings, for example, the Bayesian average is often used to calculate average ratings in a way that reduces the impact of ratings from users who rate extremely high or low, especially when the total number of ratings is low....