Question: When Bayes's Theorem is used to revise an initial probability assessment in the light of new information, the result is referred to as: Select one:

When Bayes's Theorem is used to revise an initial probability assessment in the light of new information, the result is referred to as:

Select one:

a. prior probability

b. marginal probability

c. classical probability

d. posterior probability

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!