Question: 14. Suppose that you are given a decision situation with three possible states of nature: s1, s2, and s3. The prior probabilities are P(s1) =

14. Suppose that you are given a decision situation with three possible states of nature:

s1, s2, and s3. The prior probabilities are P(s1) = .2, P(s2) = .5, and P(s3) = .3. With sample information I, P(I • s1) = .1, P(I • s2) = .05, and P(I • s3) = .2. Compute the revised or posterior probabilities: P(s1 • I ), P(s2 • I ), and P(s3 • I ).

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