Assume next that the car company consults a market research company. The market research company cannot provide the car company with perfect information, but it can tell the car company whether the image campaign has a high (H) or low (L) potential. The car company then updates its expectations about the macroeconomic environment as follows:

P(High | Boom) = 1.0, P(Low | Boom) = 0.0

P(High | Stagnating) = 0.6, P(Low | Stagnating) = 0.4

P(High | Deteriorating) = 0.0, P(Low| Deteriorating) = 1.0

This means, for example, the car company thinks that if a booming state of nature reveals itself to the marketing research company, then there is an 100% chance that the marketing research company concludes "High Potential" [P(High | Boom) = 1.0].

Question 23(1 point)

After the car company updated its probabilities, what is the probability that the car company gets a verdict of high potential, p(High)

Question 23 options:

0.3

0.4

0.6

0.7