A metal trader has the option of selling his collection to either Recycler 1 or Recycler 2.
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A metal trader has the option of selling his collection to either Recycler 1 or Recycler 2. He has done business with both in the past and probabilities show that he has preferred Recycler 2 55%
of the time. Recycler 1 has a metal processing output of 90% and Recycler 2 has a metal recycling output of 85%.
a. Develop a probability tree showing all marginal, conditional, and joint probabilities.
b. Develop a joint probability table.
c. Using Bayes’ rule, determine the probability Recycler 2 maximized its output, given that waste was generated.
( LO,1)
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