Bayes’ Theorem is a fundamental concept in probability and statistics, named after the 18th-century mathematician Thomas Bayes. It provides a mathematical framework for updating the probability of a hypothesis as new evidence becomes available. The theorem is particularly useful in various fields, including data science, medicine, and finance, where it helps in making informed decisions based on prior knowledge and new data. By calculating conditional probabilities, Bayes’ Theorem allows us to refine our beliefs and predictions, making it a powerful tool for statistical inference and machine learning applications.