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oblem 4-23 (Algorithmic) ppose that you are given a decision situation with three possible states of nature: S₁, S2, and S3. The prior probabilities are P(S1) = 0.22, P(S2) = 0.59, and P(S3) = 0.19. With sam formation I, P(I | S1) = 0.15, P(/ | S2) = 0.04, and P(/ | S3) = 0.22. Compute the revised or posterior probabilities: P(S1), P(S211), and P(S3 | I). required, round your answers to four decimal places. State of Nature S1 S₂ S3 P(S; II) * ** X

oblem 4-23 (Algorithmic) ppose that you are given a decision situation with three possible states of nature: S₁, S2, and S3. The prior probabilities are P(S1) = 0.22, P(S2) = 0.59, and P(S3) = 0.19. With sam formation I, P(I | S1) = 0.15, P(/ | S2) = 0.04, and P(/ | S3) = 0.22. Compute the revised or posterior probabilities: P(S1), P(S211), and P(S3 | I). required, round your answers to four decimal places. State of Nature S1 S₂ S3 P(S; II) * ** X

A First Course in Probability (10th Edition)
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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Problem 4-23 (Algorithmic) Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities are P(S1) = 0.22, P(S2) = 0.59, and P(S3) = 0.19. With sample information I, P(I | S1) = 0.15, P/ | S2) = 0.04, and P(/ | S3) = 0.22. Compute the revised or posterior probabilities: P(S1 | I), P(S2 | I), and P(S3 | I). If required, round your answers to four decimal places. State of Nature S1 S₂ S3 P(S; II) * X X X
Transcribed Image Text:Problem 4-23 (Algorithmic) Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities are P(S1) = 0.22, P(S2) = 0.59, and P(S3) = 0.19. With sample information I, P(I | S1) = 0.15, P/ | S2) = 0.04, and P(/ | S3) = 0.22. Compute the revised or posterior probabilities: P(S1 | I), P(S2 | I), and P(S3 | I). If required, round your answers to four decimal places. State of Nature S1 S₂ S3 P(S; II) * X X X
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