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URGENT!! I need urgent help for a very easy probability question that is due in 10 minutes, please help! Question 29 1 pts Suppose that
URGENT!! I need urgent help for a very easy probability question that is due in 10 minutes, please help!
Question 29 1 pts Suppose that the economy in 2023 could be weak (with probability 0.3), neutral (with probability 0.4). or strong (with probability 0.3). Every June, a famous economist issues a forecast that is either positive or negative about the economy in the next year. This economist has a historical record that when the economy was weak, he had issued a positive forecast 40% of the time, when the economy was neutral, he had issued a positive forecast 50% of the time, and when the economy was strong, he had issued a positive forecast 70% of the time. Assume the economist's historical record is representative of his future predictions. What is the probability that this economist will issue a negative forecast in June 2022Step by Step Solution
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