Priors are like hints that help you guess something before you see all the clues.
Imagine you're playing a game where you have to guess what toy is in a box. You don't get to open it yet, but someone tells you, "It’s probably a car." That clue helps you make a better guess than if they had said nothing at all. That clue is like a prior, it's your starting point before you see more information.
What Priors Really Do
Think of priors as your starting belief about something. It's like when you're trying to find your way home, and you already know that the park is usually where your friend lives. That helps you guess faster than if you had no idea at all.
Priors can change too! If you look in the box and see a red toy, maybe you think it’s more likely to be a fire truck than just any old car. So your starting belief gets updated with new information, that's how guessing works better over time!
Examples
- A kid assumes it will rain tomorrow because it rained yesterday, this is a simple prior.
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See also
- Gambler's Fallacy Explained: Think You're Owed A Win?
- What is uncertainty?
- What is risk?
- What is Instant luck?
- How a renaissance gambling dispute spawned probability theory?