Bayes' Theorem
Bayes' theorem (also known as Bayes' rule) is a useful tool for calculating conditional probabilities.
Bayes' Theorem is a theorem of probability theory originally stated by the Reverend Thomas Bayes. It can be seen as a way of understanding how the probability that a theory is true is affected by a new piece of evidence. It has been used in a wide variety of contexts, ranging from marine biology to the development of "Bayesian" spam blockers for email systems. In the philosophy of science, it has been used to try to clarify the relationship between theory and evidence. Many insights in the philosophy of science involving confirmation, falsification, the relation between science and pseudosience, and other topics can be made more precise, and sometimes extended or corrected, by using Bayes' Theorem. These pages will introduce the theorem
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The monthly incomes of a group of 10,000 persons were found to be normally distributed with mean equal to 
15,000 and standard deviation equal to 1000. What is the lowest income among the richest 250 persons?
Test of goodness of fit
Statistics can prove anything’
‘Figures cannot lie’
Comment on the above two statements, indicating reasons for the existence of such divergent views regarding the nature and functions of statistics
Calculate the mean, median and mode from the following data relating to production of a steel mill for 60 days
One-tail & two-tail tests
Bayes' Theorem
Exponential Smoothing Method