What is "Base rate"?

[Mounika]

Basic charge or wage to which other fees or benefits are added

Usage;

You should try to figure out a fair base rate of pay for your new workers and then raise their pay when they deserve it

[Arunkumar.B]

It is the minimum rate of interest that a bank is allowed to charge from its customers. Unless mandated by the government, RBI rule stipulates that no bank can offer loans at a rate lower than BR to any of its customers.

[nivetha]

Base rate generally refers to base class probabilities unconditioned on featural evidence , frequently also known as prior probabilities.

[Rajakumarimani]

In probability and statistics base rate generally refers to the class probability unconditioned on featural  evidence ,frequently also known as prior probability .

Example :100000 people tried the treatment but the other 99000 people never really beat their winter cold.

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