Bayes' Theorem Is a Method Used to Compute __________ Probabilities

question 31

Multiple Choice

Bayes' theorem is a method used to compute __________ probabilities.

• A)posterior
• B)conditional
• C)empirical
• D)prior

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Definitions:

Just-In-Time System

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs, aiming to have the exact amount of material, at the right time, and the right place.

Offshore

The practice of moving some of a company's operations or services to another country to capitalize on lower costs or favorable regulations.

Strategic Consequences

The outcomes or impacts that result from the implementation of specific strategies or decisions within an organization or nation.

Enterprise Resource-Planning

A software system used by organizations to manage day-to-day business activities such as accounting, procurement, project management, and manufacturing.