You Have Just Joined the Sales Modelling Team for a Start-Up

question 16

Multiple Choice

You have just joined the sales modelling team for a start-up software company. Your boss has decided that from now on the team will adopt a Bayesian approach. However, not all staff understand what this is; your boss asks you to present a training session. How would you explain a Bayesian approach in your session introduction?

• A)An approach that allows you to update the likelihood of your statistical model as more data is collected.
• B)An approach that allows you to focus on testing the null hypothesis based on data collection.
• C)An approach where you do not modify the likelihood of your statistical model as more data is collected.
• D)An approach where you reject your statistical model once data is collected.

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