Episode 001: Base Rates and Bees with Michael Mauboussin
The Decision Education Podcast
What Is a Base Rate Distribution?
A base rate is basically a distribution of past experiences given the same set of initial circumstances. Andi would be this idea of pace rats. I just think of an ecredible concept that carries an enormous amount of intellectual freight once you understand it. But but in general, this is awi the under utilized framework. Its interesting ite.
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