Harish's Notebook - My notes... Lean, Cybernetics, Quality & Data Science.
When you have eliminated all which is impossible, then whatever remains, however improbable, must be the truth. – Holmes
Imagine that you have a coin in your hand, and you are throwing it up in the air. How would you assign probabilities for the outcome? Generally, we are taught that a coin flip has a 50% chance of tails and 50% chance of heads, assuming that we are using a fair coin. The reasoning is that there are only two possible outcomes (heads, tails). Therefore, the probability of either one happening is 50%.
I have written about Bayesian epistemology before. If we evaluate the coin flip example, there is more going on here than meets the eye. The basis of all this is – from whose perspective? In Bayesian epistemology, probability is not a feature of the phenomenon such as the coin flip. The coin is not aware of…
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