Explain prior probability and posterior probability.
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Prior probability represents what is originally believed before new evidence is introduced, and posterior probability takes this new information into account. ... A posterior probability can subsequently become a prior for a new updated posterior probability as new information arises and is incorporated into the analysis.
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Prior probability represents what is originally believed before new evidence is introduced, and posterior probability takes this new information into account. ... A posterior probability can subsequently become a prior for a new updated posterior probability as new information arises and is incorporated into the analysis.
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