Kellogg School of Management

Bayes Theorem Supplementary Material -- Videos

Bayes Theorem is a way to calculate conditional probabilities. This is important when you want to calculate how probabilities change when you see data. It is a way to measure how much you have learned ...

Understanding Prior Probability in Bayesian Statistics

Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.
Diginomica

Can Bayesian Networks provide answers when Machine Learning comes up short? It's a question of probabilities

Machine Learning gets all the marketing hype, but are we overlooking Bayesian Networks? Here's a deeper look at why "Bayes Nets" are underrated - especially when it comes to addressing probability and ...
Scientific American

What is Bayes's theorem, and how can it be used to assign probabilities to questions such as the existence of God? What scientific value does it have?

Chris Wiggins, an associate professor of applied mathematics at Columbia University, offers this explanation. A patient goes to see a doctor. The doctor performs a test with 99 percent ...
EurekAlert!

Probability theorem gets quantum makeover after 250 years

How likely you think something is to happen depends on what you already believe about the circumstances. That is the simple concept behind Bayes’ rule, an approach to calculating probabilities, first ...
Kellogg School of Management

Bayes Theorem Supplementary Material -- Videos

The intuition of Bayes Theorem came up when we discussed the real options valuation in lecture and is applicable to many situations where you learn. Bayes Theorem is a way to calculate conditional ...