Suppose that in a painting exhibition, 96% of the exhibits are genuine, while the remaining 4% are
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Suppose that in a painting exhibition, 96% of the exhibits are genuine, while the remaining 4% are fake. A painting collector can identify a genuine painting as such with a probability 90%, while if the painting is fake the probability that the collector finds this out is 80%. If she exits the exhibition having just bought a painting, which she obviously thinks is genuine, what is the probability that it is not?
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Related Book For 
Introduction To Probability Volume 2
ISBN: 9781118123331
1st Edition
Authors: Narayanaswamy Balakrishnan, Markos V. Koutras, Konstadinos G. Politis
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