Bayes' theorem, also called Bayes' rule or Bayesian theorem, is a mathematical formula used to determine the conditional probability of events. The theorem uses the power of statistics and probability ...

Inside probability theory, conditional probability is a way to calculate and measure the probability of some event happening if another event has already occurred. The Bayes’ Theorem is one way of ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Alice and Bob are playing a game in which the first person to get 6 points wins. The way each point is decided is a little strange. The Casino has a pool table that Alice and Bob can't see. Before the ...

In this article Dr Birnbaum and Dr Maxwell describe some methods of classification based on the classical probability formula of Bayes, and on some of its applications suggested by the theory of ...

This article was published in Scientific American’s former blog network and reflects the views of the author, not necessarily those of Scientific American I’m not sure when I first heard of Bayes’ ...