Consider the same informational cascade game as in Lecture 11 (prior belief = 0.5, payoff of correct choice = 1, payoff ofwrong choice = 0). Let the signal accuracy be 0.85 for every player: P(SLIL is correct) = P(sR|R is correct) = 0.85.If the first consumer chooses L, what is his posterior belief P(L is correct) at the time of his choice?Please write your answer in digits, not fraction.

Answered: Image /qna-images/answer/2b13eb82-bd1c-49c6-b256-6f20763369e8.jpg

Answered: Consider the same informational cascade…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Many track hurdlers believe that they have a better chance of winning if they start in the inside lane that is closest to the field. For the data below, the lane closest to the field is Lane 1, the next lane is Lane 2, and so on until the outermost lane, Lane 6. The data lists the number of wins for track hurdlers in the different starting positions. Calculate the chi-square test statistic x to test the claim that the probabilities of winning are the same in the different positions. Use α = 0.05. The results are based on 240 wins. Starting Position 3 4 5 6 1 2 Number of Wins 44 32 33 50 36 45 O A. 6.750 O B. 12.592 O C. 15.541 O D. 9.326 C
A researcher gathered a sample of participants who volunteered for a studying of phobias. She measured anxiety level of participants as they viewed photos of spiders and again when they viewed puppies. Which statistical test is appropriate for this study and why?
Suppose you were given a coin, which you don’t know whether it’s coin A or coin B. Probability of getting head for coin A is 0.5, and probability of getting head for coin B is 0.3. Your prior belief is P(coin A) = 0.9. You flipped the coin 5 times and obtained 1 head and 4 tails. What’s your posterior belief of P(coin A)?
The researcher is concerned that older persons may not be knowledgeable of the COFLU-20. As such, he is interested in investigating the association between the age of the respondents and their knowledge level. Table 2 below shows the knowledge level of respondents, by age group. Table 2 (image included) Conduct a test, at the 5% level of significance, to determine whether the data provided sufficient evidence to conclude that an association exists between age group and knowledge level. State the hypotheses to be tested: H0: H1: state the degrees of freedom for this test the p-value for this test, given that the chi-square test statistic, c2, is 11.029. state the conclusion for the test. Give reason for your answer.
Dwyer, Figuerooa, Gasalla, and Lopez (2018) showed that learning of flavor preferences depends on the relative value of the reward with which a flavor is paired. In their experiment, rats received pairings of a cherry flavor with 8% sucrose solution after exposure to 32% sucrose solution, which made the 8% solution a relatively low value. On other trials, a grape flavor was paired with 8% sucrose solution after exposure to a 2% sucrose solution, which made the 8% solution a relatively high value. Thus, cherry was paired with a relatively low-value reward and grape was paired with a relatively high-value reward. They observed that rats consumed more in ounces of cherry flavor than grape flavor at a later test. Identify the independent and dependent variables for this study. What scale of measurement is the dependent variable? Is the dependent variable discrete or continuous? Imagine that the researcher reported that subject number 4 consumed 2.5 ounces of cherry-flavored water.…
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Think of all of the different games that have been presented in this lesson: rolling a die, using aspinner, drawing a card from a deck, etc. Sometimes the results ended favorably for one person overanother, but that’s not what we want for this activity. Can you design a fair game? Use this worksheet todesign a game whose expected value is 0. Be sure to define the rules of play. Prove that your game isfair using the expected value calculation.
q21
zample 3: Alexis is selling girl scout cookies. She has kept track of the number of boxes of cookies at her customers have purchased over the last 2 years. She wants to use this data to help edict how many boxes of cookies a new customer might purchase. The table below summarizes exis' data, with the number of boxes that a customer might purchase along with the rresponding probability that they will purchase that number of boxes based on her previous les. Use this information to answer the following questions. Outcomes: 2 3 4 5 6 7 8 X = x Probability: P(X = x¡) 0.21 0.16 0.32 0.11 0.08 0.05 0.04 0.02 0.01 a) Construct a probability histogram of the data in the table above and comment on the shape. ) What is the probability that a randomly selected customer will purchase 3 boxes of cookies? What is the probability that a randomly selected customer will purchase at least 4 boxes of cookies? What is the probability that a randomly selected customer will purchase anywhere from 2 to 5…

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