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marketing research study. The following probabilities apply. CONDITIONAL PROBABILITY GIVEN DEMAND Weak Moderate Strong 10,000 .6 .3 .1 15,000 .3 .5 .2 20,000 .1 .2

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marketing research study. The following probabilities apply. CONDITIONAL PROBABILITY GIVEN DEMAND Weak Moderate Strong 10,000 .6 .3 .1 15,000 .3 .5 .2 20,000 .1 .2 . '7 Find the posterior probabilities with this information. 6.Compute (1) the EVEI and [2) the expected net gain of experiment when the demand forecast experiment has a cost of $ 50. 7.Titne will only permit Hoopla to use on source of information. To maximize expected payoff, should Hoopla request the marketing research study or the demand forecast experiment

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