Question

1. bayesian thinking updates probabilities using:

a. only prior information
b. only new evidence
c. neither prior information nor new evidence
d. both prior information and new evidence

Explanation:

Bayesian Thinking is based on Bayes' theorem. Bayes' theorem formula is \(P(A|B)=\frac{P(B|A)P(A)}{P(B)}\), where \(P(A)\) is the prior probability (prior information), and \(P(B)\) and \(P(B|A)\) are related to new evidence. So it updates probabilities using both prior information and new evidence.

Answer:

d. Both prior information and new evidence