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decision making

Bayes’ Theorem Demystified

By John Rusk on December 30, 2011

Bayes’ Theorem is an important tool when analysing probabilities.  It helps us to avoid cognitive traps and make better decisions.  However, it is usually presented as something difficult, or even controversial.  The typical article on Bayes’ Theorem stresses how difficult it is, and then goes on to bemoan the fact that its not more widely [...]

Posted in Estimation and Pricing | Tagged decision making, slightly off topic | 2 Responses

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