Probability. Lecture 4. Conditional Probability and Bayes Rule

Lecture 4 covers important concepts of conditional probability and Bayes rule widely used in statistics, econometrics and data science Timeline: 00:00 Conditional probability 13:07 Multiplication law 23:47 Law of total probability 57:04 Bayes rule 1:00:10 Examples The course “Probability“ for the 2nd year bachelors in Economics Taught at BRICS institute, Irkutsk National Research Technical University, Winter semester 2021