The two terms in the Bayes formula represent prior probability and likelihood. Which of the following describe the two terms best? Select all that apply.
A) Prior probability: Represents the initial belief or probability before new evidence is considered.
B) Prior probability: Represents the probability of an event occurring based on past data or experience.
C) Likelihood: Represents the probability of observing the given data if the hypothesis is true.
D) Likelihood: Represents the probability of the hypothesis being true given the observed data.