Bayes' theorem

A. can be used only for cases where conditional probabilities are unknown.
B. cannot be used to calculate posterior probabilities.
C. enables the use of sample information to revise prior probabilities.
D. is useful for determining optimal decisions without requiring knowledge of probabilities of the states of nature.


Answer: C

Business

You might also like to view...

Which of the following was listed in the discussion on stylistic devices as something you should use sparingly?

A) action words B) active voice C) short paragraphs D) white space E) jargon

Business

After an accounting system has been set up, what is the next step?

A) Analysis B) Feedback C) Implementation D) Internal controls

Business

If the unemployment rate is _________, it is _________ to recruit applicants for open positions.

A. high; harder B. high; easier C. low; harder D. low; easier E. None of the above

Business

Communicate Ethically And Responsibly Thomas is the CEO of AZ Consultancy Services, a recently opened information technology service corporation in California, US. Thomas wants to recruit 100 engineering graduates in the next few months. So, he creates

a brochure that would be distributed throughout the state for awareness. He wants Steve, a senior data analyst in the same company, to help create the brochure. Steve does not know how to create a brochure, so he decides to ask Alan to create a checklist for him on how to create a brochure and how to communicate a message ethically and responsibly. Provide guidelines to help Steve communicate the information ethically and responsibly.

Business