Theory of Predictive Probability

The Theory of Predictive Probability involves estimating the likelihood of future events based on existing data or past observations. It combines current knowledge with statistical methods to make informed predictions about what might happen next. By analyzing patterns and trends, it helps us understand and quantify uncertainty about future outcomes, enabling better decision-making. Essentially, it’s a way to use what we already know to forecast what’s likely to occur, grounded in probability theory and statistical reasoning.