How does the concept of "updating" apply in Bayesian statistics?
- It means changing the data after analysis
- It means replacing old hypotheses with new ones
- It refers to modifying the statistical model
- It refers to the process of using new evidence to update a prior probability
Updating in Bayesian statistics refers to the process of using new evidence to update a prior probability to a posterior probability. Bayes' theorem provides the mathematical framework for this updating process.
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