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“The relative frequency of some event occurring. (2) A subjective belief about the chance of some event occurring. The first definition is the most common; the second is the foundation of the Bayesian approach. Some basic rules must hold for probabilities: (a) 0 ≤ p ≤ 1, (b) P(A or B) = P(A) + P(B) if A and B mutually exclusive, and (c) the sum of the probability of all events must be one.”

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By |February 1st, 2019|Comments Off on probability