Term paper on managerial accounting

P(X|Y) = [ P(X) ´ P(Y|X) ] ¸ [P(X) ´ P(Y|X) + P(not X) ´ P(Y| not X)] Bayes' rule provides posterior probability [, P(X|Y)] sharpening the prior probability [., P(X)] by the availability of accurate and relevant information in probabilistic terms.

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