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What is an example of employee empowerment in a restaurant?
Posterior Probabilities
Calculated probabilities updated to reflect new, relevant information, usually in the context of Bayesian inference.
Prior Probabilities
Prior probabilities are the probabilities of events before any new evidence is considered, often serving as the initial belief in Bayesian statistics.
Conditional Probabilities
The probability of an event occurring given that another event has already occurred, reflecting the dependence between events.
Joint Probabilities
The probability that multiple events will occur simultaneously.
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