Using the Bayesian formula, we can calculate the probability that an event occurs based on another event being true. It’s key for taking prior beliefs and comparing them with new belief based on the evidence in between them.
Using this formula, we can determine the probability of something based on the given fact of another. For example, given that there are 1395 potential artists in the contest, we can estimate the probability that a pop artist will win given only 100 actually submit a song. There is a 10% chance that the winner will be a pop artist.
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