The procedure for revising probabilities based upon additional information is referred to as:
A)utility theory.
B)Bernoulli's theorem.
C)central limit theorem.
D)Bayes Law.

Question

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The procedure for revising probabilities based upon additional information is referred to as Bayes Law. Bayes Law allows us to update our prior beliefs or probabilities based upon new data or evidence.

The Procedure for Revising Probabilities Based Upon Additional Information Is