Conjugate prior

A conjugate prior is a type of prior belief in Bayesian statistics that, when combined with new data through the process of updating, results in a posterior distribution of the same family as the prior. This mathematical convenience simplifies calculations and analysis. Essentially, it means that if you start with a certain kind of initial assumption about a probability, your updated belief after seeing new data will follow a similar pattern, making the process more manageable and intuitive for statisticians.