Bayes' Theorem

Bayes' Theorem is a way to update our beliefs based on new evidence. Imagine you have a guess about the likelihood of an event (like it raining tomorrow). As you gather more information (like weather forecasts), Bayes' Theorem helps you adjust your guess. It combines your initial belief (prior probability) with the new evidence (likelihood) to produce a revised belief (posterior probability). This approach highlights how new information can change our understanding, making it a powerful tool in areas like medicine, finance, and decision-making.