Laplace Succession Laws
<p>The Laplace Succession Law, also known as the Rule of Succession, is a principle in probability theory developed by Pierre-Simon Laplace. It is used to estimate the probability of an event’s future occurrence based on its past occurrences, particularly when dealing with a small sample size. This rule is especially notable for providing a way to handle cases where an event has not yet been observed.</p>
<p>The basic formula of the Laplace Succession Law for estimating the probability of an event <em>E</em> occurring next, given that it has occurred <em>s</em> times in <em>n</em> trials, is given by:</p>
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