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Bayesian Analysis of New Information

Lecture no. 20 from the course: Mathematical Decision Making: Predictive Models and Optimization

Bayesian Analysis of New Information

Taught by Professor Scott P. Stevens | 30 min | Categories: The Great Courses Plus Online Mathematics Courses

According to Bayes’s theorem, the chance that something is true changes as new and better information becomes available. Trace the use of this principle in the search for wreckage from Air France flight 447, and learn how itthis simple but powerful idea serves as a corrective to bad decision making in many spheres.