Definition of Term: Bayes linear adjustment

In the context of the Bayes linear approach, suppose that we have specified prior means, variances and covariances for a collection of uncertain quantities. If the values of some of the quantities become known, then we reassess our judgements about the remaining quantities. As the Bayes linear approach is Bayesian, we modify our prior beliefs in light of the data, which (under the Bayes linear approach) yields the adjusted expectation and adjusted variance for each quantity and the adjusted covariance for every pair.

See the procedure page on calculation of adjusted expectation and variance (ProcBLAdjust) for details on calculating the adjusted expectations, variances and covariances, and the discussion page on theoretical aspects of Bayes linear (DiscBayesLinearTheory) for further discussion of the theory behind Bayes linear.