Bayes' theorem enables decision makers to revise probabilities based on
A)perfect information.
B)knowing, ahead of time, the actual outcome of the decision.
C)additional information.
D)measurements of utility.

Question

Quizplus · Accepted Answer

Bayes' theorem allows for probabilities to be updated based on new or additional information, allowing decision makers to make more informed choices. It does not require perfect information or knowledge of the actual outcome of the decision, and it is not directly tied to measurements of utility.

Bayes' Theorem Enables Decision Makers to Revise Probabilities Based on