The Posterior

In statistics, the "posterior" refers to our updated belief about something after considering new evidence. Imagine you have an initial idea or estimate (the prior), and then you gather more information or data. The posterior combines your initial belief with this new information to give a refined understanding. It’s a way of updating what we think based on additional evidence, helping us make more informed decisions or predictions. This concept is fundamental in Bayesian statistics, where beliefs are updated systematically as new data becomes available.