Is it possible to use bayesian inference technique for data which does not follow the memoryless property? What is the likelihood function and prior in this case?
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Questions about statistical inference might be better suited at stats.stackexchange.com. In its current form this question seems too borad - more information is certainly needed. (The prior and likelihood surely depend on what you are trying to model, what data you have etc.) – Juho Kokkala Jun 12 '14 at 15:53