Consider the following payoff table.States of NatureAlternativesABAlternative 1100150Alternative 2200100Probability0.40.6What is the most you would pay for a highly reliable forecast?O 17030O 40O 100O 10

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Answered: Consider the following payoff table.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Contingency Tables and Conditional Probability: Homework and Passing a Course A teacher categorized students by whether they regularly completed their homework (or not) and whether they passed the course (or not). The data are in the table below. Completed Homework Did not Complete Homework Total Passed the Course 24 6 30 Did not Pass the Course 4 17 21 Total 28 23 51 A student from the class is randomly selected. Determine the following probabilites. Enter your results as percents rounded to two decimal places. What is the probability a student passed the course given that they completed their homework?% What is the probability a student passed the course given that they didn't complete their homework?% What is the probability a student completed their homework given that they passed the course?% What is the probability a student didn't complete their homework given that they didn't pass the course?%
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The uncontrollable future events that can affect the outcome of a decision are known as _____. a. states of nature b. payoffs c. alternatives d. decision outcomes
Contingency Tables and Conditional Probability: Homework and Passing a Course A teacher categorized students by whether they regularly completed their homework (or not) and whether they passed the course (or not). The data are in the table below. Did not Complete HW Completed HW 26 Total Passed the Course 33 Did not Pass the Course 18 24 Total 32 25 57 A student from the class is randomly selected. Determine the following probabilities. Enter your results as percents rounded to two decimal places. What is the probability a student passed the course? What is the probability a student passed the course or completed the HW? What is the probability a student passed the course and completed the HW? What is the probability a student completed their homework given that they passed the course? Question Help: Written Example Message instructor Submit Question Jump to Answer 43,324 MAR tv 8. HELLO R
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Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $9. If you roll a 3, 4 or 5, you win $2. Otherwise, you pay $3.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent)c. Interpret the expected value. You will win this much if you play a game. If you play many games, on average, you will likely win, or lose if negative, close to this amount. This is the most likely amount of money you will win. d. Based on the expected value, should you play this game? No, this is a gambling game and it is always a bad idea to gamble. Yes, because you can win $9.00 which is greater than the $3.00 that you can lose. No, since the expected value is negative, you would be very likely to come home with less money if you played many games. Yes,…
Solutions for parts b, c, and d please
Contingency Tables and Conditional Probability: Homework and Passing a Course A teacher categorized students by whether they regularly completed their homework (or not) and whether they passed the course (or not). The data are in the table below. Completed Homework Did not Complete Homework Passed the Course Did not Pass the Course Total % 26 4 30 A student from the class is randomly selected. Determine the following probabilites. Enter your results as percents rounded to two decimal places. What is the probability a student passed the course given that they completed their homework? % 5 14 19 What is the probability a student passed the course given that they didn't complete their homework? % Total 31 18 49 % What is the probability a student completed their homework given that they passed the course? Submit Question What is the probability a student didn't complete their homework given that they didn't pass the course?
Refer to the following payoff table: State of Nature Alternative S1 S2 A1 75 −40 A2 0 100 Prior Probability 0.6 0.4 There is an option of paying $100 to have research conducted to better predict which state of nature will occur. When the true state of nature is S1, the research will accurately predict S1 60% of the time. When the true state of nature is S2, the research will accurately predict S2 80% of the time. What is the posterior probability of S1 given that the research predicts S1? Multiple Choice: 0.18 0.82 0.57 0.44 0.65

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Consider the following payoff table. States of Nature Alternatives A Alternative 1 100 150 Alternative 2 200 100 Probability 0.4 0.6 What is the most you would pay for a highly reliable forecast? O 170 30 O 40 O 100 O 10