Ray Crofford is evaluating investment alternatives for the $100,000 which he inherited from his grandfather. His investment advisor has identified two alternatives and constructed the following tables which show (1) expected profits (in $10,000's) for various market conditions and their probabilities, and (2) the advisor's track record on predicting Bull and Bear markets.

	Market Condition				Advisor's	Actual Market Condition
Investment	Bull (0.8)	Bear (0.2)	EMV		Prediction	Bull (S1)	Bear (S2)
Bonds	12	-3	9		Bull (F1)	0.9	0.3
Stocks	25	-30	14		Bear (F2)	0.1	0.7

1. The probability that the advisor predicts a Bear market and the Bear market is the actual condition P(F₂ and S₂₎ is?

2. If the advisor predicts a Bear market the revised probability of a Bear market, P (S2|F2), is?

3. If the advisor predicts a Bear market the EMV of the Stocks alternative, using revised probabilities, is?