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Suppose that you are given a decision situation with three possible states of nature: s 1 , s 2 , and s 3 . The
Suppose that you are given a decision situation with three possible states of nature: s1, s2, and s3. The prior probabilities are P(s1)=0.2, P(s2)=0.5, and P(s3)=0.3. With sample information I, P(I|s1)=0.12, P(I|s2)=0.05, and P(I|s3)=0.2. Compute the revised (or posterior) probabilities: P(s1|I), P(s2|I), and P(s3|I). Round your answers to three decimal places. |
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