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

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Suppose That You Are Given A Decision Situation With Three Possible States Of Nature 5 5 And S The Prior Probabili 1 (15.98 KiB) Viewed 47 times

Suppose that you are given a decision situation with three possible states of nature: 5₁, 5₂, and s. The prior probabilities are P(s) = 0.5, P(s) = 0.3, and P(s) = 0.2. With sample information I, P(Ils) = 0.1, P(I|s₂) = 0.05, and P(Is) = 0.2. Compute the revised or posterior probabilities: P(s, 1I), P(S₂II), and P(s. II), (Round your answers to four decimal places.) P(s, II) P(S₂11) P(s, 11)