Bayes' theorem combines prior probability and likelihood to give: MCQ with Answer and Explanation

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Bayes' theorem combines prior probability and likelihood to give:

A. Posterior probability

B. Joint probability

C. Conditional probability of the evidence

D. Marginal probability

Answer: Option A

Solution (By JKExamLibrary)

It updates prior beliefs to posterior beliefs after observing evidence.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

Assertion (A): Direct personal investigation is always the most suitable method for data collection. Reason (R): It provides original and highly accurate data.

A. A is true, but R is false

B. Both A and R are true, but R is not the correct explanation of A

C. Both A and R are true, and R is the correct explanation of A

D. A is false, but R is true

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Correct Answer: Option D

Explanation:
Direct personal investigation is not always suitable, especially for very large populations, although it does yield highly accurate data.

This question belongs to: Accountancy and Statistics Statistics