A posterior probability value is a prior probability value that has been:
a. modified on the basis of new information.
b. multiplied by a conditional probability value.
c. divided by a conditional probability value.
d. added to a conditional probability value.
Question 2
Which of the following statements is false?
a. Thomas Bayes first employed the calculation of conditional probability in the eighteenth century.
b. There is no formula defining Bayes' Law.
c. We use a probability tree to conduct all necessary calculations for Bayes' Law.
d. None of these choices.
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