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Part B Discuss the effect on the expected value of the information from the X-ray test based on the following changes. (a) The enginear's estimate
Part B Discuss the effect on the expected value of the information from the X-ray test based on the following changes. (a) The enginear's estimate of the probability of a waakened foundation moving closer to 3066 from only 2%6; and (o) The engineer changing her mind 20 that she is totally certain, i.e. a probability of 1005 , that the foundation is not waakened. Note that calculations are not necessary to solve Fart B. [Question 3, Part B: 10 marks] Part C Assume that the engineer's original prior probsbilities apply, i.e. a 2% probsbility of a weakened foundation and 98% probability that the foundation has not weakened at all. If the test was perfectly reliable, what would be the value of the information it gives the en gineer
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