Suppose that you are given a decision situation with three possible states of nature: 51, 52, and sz. The prior probabil

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Suppose That You Are Given A Decision Situation With Three Possible States Of Nature 51 52 And Sz The Prior Probabil 1 (11.62 KiB) Viewed 68 times

Suppose that you are given a decision situation with three possible states of nature: 51, 52, and sz. The prior probabilities are P(51)=0.2, P(52)-0.5, and P(53)-0.3. With sample information 1, PUIS:) 0.17, P(1152) 0.05, and PL/S3)0.2. Compute the revised (or posterior) probabilities: P(5:17), P(621, and P(311). Round your answers to three decimal places P(SI)- P(21) - P(531)