What does Bayes' theorem mean?

Bayes' theorem meaning in Law Dictionary

solution to anticipate when a conference will occur considering another occasion happening or perhaps not taking place. It had been known as after Thomas Bayes a probability specialist.

Bayes' theorem meaning in Business Dictionary

Relates the chances of the incident of an event to your incident or non-occurrence of an associated event. As An Example, the probability of drawing an ace from a pack of cards is 0.077 (4 ÷ 52). If two cards tend to be drawn randomly, the chances of the second card being an ace is dependent upon whether the very first card is an ace or not: in case it is, then your likelihood of the next card being an ace is 0.058 (3 ÷ 52); if not, the likelihood remains 0.077. Bayes' theorem provides a mathematical rule for revising an estimate or forecast in light of expertise and observance. It differs off their methods of theory assessment for the reason that it assigns 'after the actual fact' (posterior) probabilities towards the hypotheses rather than accepting or rejecting them. Named as a result of its proponent, great britain mathematician Thomas Bayes (1702-1761) whom researched likelihood and statistical inference.

Bayes' theorem meaning in General Dictionary

(data) a theorem describing how the conditional likelihood of a set of feasible reasons for confirmed seen event are calculated from familiarity with the chances of each cause in addition to conditional likelihood of the results of each and every cause