Bayes’ theorem allows you to update the predicted probabilities of an event by incorporating new information.
Bayes’ theorem was named after the 18th century mathematician Thomas Bayes.
It is often used in finance to calculate or update a risk assessment.
— The theorem has become a useful element in the implementation of machine learning.
The theorem has not been used for two centuries due to the large amount of computing power required to perform its transactions.
Performance Based Management (ABM) is a means of analyzing a company’s profitability by looking at every aspect of its business to determine its strengths and weaknesses.
A ballpark figure is a rough estimate of what something might mean in numerical terms when a more precise number is estimated, such as the cost of a product.
The binomial distribution is a probability distribution that generalizes the probability that a value will take on one of two independent values given a set of parameters or assumptions.
Share capital is the number of ordinary and preferred shares that the company has the right to issue and which are accounted for on the balance sheet as part of share capital.
The Central Limit Theorem (CLT) states that the distribution of sample means approaches a normal distribution as the sample size increases, regardless of the distribution of the population.