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Bayes's theorem

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Explain Bayes's theorem, and give a practical example of how it can be used. Be specific.

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Solution Summary

Bayes's theorem is discussed and practical examples of how it can be used is in the solution.

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Bayes' theorem (also known as Bayes' rule or Bayes' law) is a result in probability theory that relates conditional probabilities. If A and B denote two events, P(A|B) denotes the conditional probability of A occurring, given that B occurs. The two conditional probabilities P(A|B) and P(B|A) are generally different. Bayes theorem gives a relation between P(A|B) and P(B|A).

As a formal theorem, Bayes' theorem ...

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Sheetal Jain, PGDM
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  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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