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ving payoff table for a maximization decision State of Nature 51 Alternative A1 A2 Prior Probability 0.81 There is an option of paying $100 to

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ving payoff table for a maximization decision State of Nature 51 Alternative A1 A2 Prior Probability 0.81 There is an option of paying $100 to have research done to better predict which state of nature will When the true state of nature is 51, the research will accurately predict 51 60% of the time. Were state of nature is S2, the research will accurately predict 52 80% of the time. 751 0 100 Given that the research is done, what is the joint probability that the state of nature is S2 and the research predicts S12 0 0.08 0.32 0.36 O 0.24 O 0.16

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