Business
Laplace’s Rule, aka The Rule of Succession I don’t know why it’s called the “rule of succession.” But it’s called Laplace’s Rule because it was developed by Pierre-Simon Laplace in 1774. It’s also called the Laplace-Bayes Estimator, because it’s related to, or a result derived from, Bayes’ Theorem of 1764. Say there is a event Read More