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Ben & Jerry's is an ice cream producer owned by Unilever. If the firm identified that its managers lacked the expertise to create additional growth for the firm's products, a marketing manager would likely incorporate this knowledge into its SWOT analysis as
Prior Probability
The probability of an event before new evidence is considered, used in Bayesian statistics as a part of updating the probability based on new information.
Posterior Probability
is the probability of the hypotheses given the observed data, calculated using Bayes' theorem.
Prior Probability
The likelihood of an event occurring before new evidence is taken into account.
Conditional Probability
The estimated probability of an event's occurrence when it is already known that another event has preceded it.
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