Suppose that you are given a decision situation with three possible states of nature: s₁, S2, and $3. The prior probabil

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Suppose That You Are Given A Decision Situation With Three Possible States Of Nature S S2 And 3 The Prior Probabil 1 (13.21 KiB) Viewed 10 times

Suppose that you are given a decision situation with three possible states of nature: s₁, S2, and $3. The prior probabilities are P(s) - 0.3, P(S₂) = 0.5, and P(S3)= 0.2. With sample information I, P(IIS,)= 0.1, P(Ils₂)= 0.05, and P(Ils 3) = 0.2. Compute the revised or posterior probabilities: P(s, 11), P(S₂11), and P(s,II). (Round your answers to four decimal places.) P(S,II) P(S₂11) P(SII)