Suppose that you are given a decision situation with three possible states of nature: s, 52, and s. The prior probabilities are P(s,) = 0.3, P(s,) = 0.5, and P(s,) = 0.2. With sample information I, P(I|s,) = 0.1, P(I|s,) = 0.05, and P(I|s,) = 0.2. Compute the revised or posterior probabilities: P(s, I1), P(s,I), and P(s, 1). (Round your answers to four decimal places.) P(s, I1) P(s,1) P(s, I1) 0.0659

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Suppose that you are given a decision situation with three possible states of nature: s, 52, and s. The prior probabilities are P(s,) = 0.3, P(s,) = 0.5, and P(s,) = 0.2.
With sample information I, P(I|s,) = 0.1, P(I|s,) = 0.05, and P(I|s,) = 0.2. Compute the revised or posterior probabilities: P(s, I1), P(s,I), and P(s, 1). (Round your
answers to four decimal places.)
P(s, 1)
P(s, |1)
P(s, 1)
0.0659
Transcribed Image Text:Suppose that you are given a decision situation with three possible states of nature: s, 52, and s. The prior probabilities are P(s,) = 0.3, P(s,) = 0.5, and P(s,) = 0.2. With sample information I, P(I|s,) = 0.1, P(I|s,) = 0.05, and P(I|s,) = 0.2. Compute the revised or posterior probabilities: P(s, I1), P(s,I), and P(s, 1). (Round your answers to four decimal places.) P(s, 1) P(s, |1) P(s, 1) 0.0659
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