Examlex
Which of the following best describes a bond that is issued by a local entity and traded in a local market, but may be purchased by foreigners?
Prior Probability
The probability of an event or hypothesis before new evidence is taken into account.
Bayes' Law
A theorem in probability theory used to update the probability of a hypothesis as more evidence or information becomes available.
Posterior Probability
The probability of an event or hypothesis after taking into consideration new evidence or information.
Prior Probabilities
The probabilities that are assigned to events or hypotheses before any relevant evidence is taken into account, used in Bayesian analysis.
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