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:

Public Interest

The well-being and general benefit of the community or society at large, often guiding government policy and legal decisions.

Adam Smith

An 18th-century Scottish economist and philosopher known as the father of modern economics, famous for his work "The Wealth of Nations."

Modern Economics

A branch of social science that studies how individuals, businesses, and governments make choices on allocating resources to satisfy their needs and wants.

The Wealth of Nations

A seminal book by Adam Smith, which discusses economics, the importance of free markets, division of labor, and productivity.