BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Bayes’ Theorem formula is an important method for calculating conditional probabilities. It is used to calculate posterior probabilities. Bayes’s theorem describes the probability of an event, based on conditions that might be related to the event.

Detailed explanation-2: -Posterior probability is calculated by updating the prior probability using Bayes’ theorem. In statistical terms, the posterior probability is the probability of event A occurring given that event B has occurred.

Detailed explanation-3: -Bayes theorem provides a way to calculate the probability of a hypothesis based on its prior probability, the probabilities of observing various data given the hypothesis, and the observed data itself.

Detailed explanation-4: -In statistics and probability theory, the Bayes’ theorem (also known as the Bayes’ rule) is a mathematical formula used to determine the conditional probability of events.

Detailed explanation-5: -Posterior probability = prior probability + new evidence (called likelihood).