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    Statistics for Management and Economics
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    Exam 6: Probability
  5. Question
    Bayes' Law Is a Formula for Revising an Initial Subjective
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Bayes' Law Is a Formula for Revising an Initial Subjective

Question 209

Question 209

True/False

Bayes' Law is a formula for revising an initial subjective (prior)probability value on the basis of new results,thus obtaining a new (posterior)probability value.

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