We recently proposed that the observed apparent negative dispersion in bone can arise from the interference between fast wave and slow wave modes, each exhibiting positive dispersion [Marutyan, J. Acoust. Soc. Am. 120, EL55-EL61 (2006)]. In the current study, we applied Bayesian probability theory to solve the inverse problem: extracting the underlying properties of bone. Simulated mixed mode signals were analyzed using Bayesian probability. The calculations were implemented using the Markov chain Monte Carlo with simulated annealing to draw samples from the marginal posterior probability for each parameter.