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Suppose that you are given a decision situation with three possible states of nature: s,, s,, and s, . The prior probabilities are P(s, )
Suppose that you are given a decision situation with three possible states of nature: s,, s,, and s, . The prior probabilities are P(s, ) = 0.3, P(s,) = 0.2, and P(s?) = 0.5. With sample information I, P(I|s ) = 0.1, P(I|s,) = 0.05, and P(I|s, ) = 0.2. Compute the revised or posterior probabilities: P(s, ID), P(s, I!), and P(s;I!). (Round your answers to four decimal places.) P(s, [1) P(s, [1) P(s, [1)
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