Examlex

Solved

Bayes' Rule Is a Formula for Revising an Initial Subjective

question 25

True/False

Bayes' Rule is a formula for revising an initial subjective (prior) probability value on the basis of results obtained by an empirical investigation and for, thus, obtaining a new (posterior) probability value.


Definitions:

Concessions

Compromises made by one or more parties in a negotiation, often in the form of giving up something in return for reaching an agreement.

Reciprocating Concessions

A negotiation technique where each party makes concessions to the other, with the expectation of receiving similar concessions in return.

Negotiations

A process in which two or more parties discuss problems or disputes to reach a mutually acceptable agreement.

Concessions

Compromises or allowances made by one party in negotiations, often involving the relinquishment of certain demands or positions.

Related Questions