My son’s taking a business statistics course in college and recently asked me about this Bayes’s rule stuff that’s complicating his life.
Bayes’s rule has to do with the conditional probability of an event B given the occurrence of another event A. In mathematical terms, this conditional probability, P(B|A), is equal to P(B)*P(A|B)/P(A). Students in introductory statistics courses are often given exercises whose solutions require interpretation/application of this Bayesian algebra. The correct results are often counterintuitive.
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