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Topic: Quantitative Methods for Finance - Is the following statements true or false? Explain the answer...

Topic: Quantitative Methods for Finance - Is the following statements true or false? Explain the answer briefly.

The total probability rule is used to determine how our subjective beliefs are modified when we are confronted with new evidence.

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The given statement is FALSE because the total probability rule used for determination of conditional and marginal probabilities and it is reflecting that if the probability of a particular event is unknown then it can be calculated through known probability of various several events so it is not about determination of the subjective belief and modification of the subjective belief when we are confronted with new evidence as it is mostly quantitative in nature.

The given statement is FALSE.

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