A frequentist is a person whose long-run ambition is to be wrong 5% of the time.<p>A Bayesian is one who, vaguely expecting a horse, and catching a glimpse of a donkey, strongly believes he has seen a mule.<p><a href="http:&#x2F;&#x2F;www.statisticalengineering.com&#x2F;frequentists_and_bayesians.htm" rel="nofollow">http:&#x2F;&#x2F;www.statisticalengineering.com&#x2F;frequentists_and_bayes...</a>