× Lean Six Sigma dictionary of terms

Prior Probability

4 months 3 weeks ago #724 by dorina
Prior Probability was created by dorina
In Bayesian statistical inference, a prior probability distribution, often simply called the prior, of an uncertain quantity is the probability distribution that would express one's beliefs about this quantity before some
evidence is taken into account. For example, the prior could be the
probability distribution representing the relative proportions of voters
who will vote for a particular politician in a future election. The
unknown quantity may be a parameter of the model or a latent variable rather than an observable variable.


https://en.wikipedia.org/wiki/Prior_probability

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