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will like. 11. Suppose that you are given a decision situation with three possible states of nature: S1,S2, and S3. The prior probabilities are P(S1)=0.18,
will like. 11.
Suppose that you are given a decision situation with three possible states of nature: S1,S2, and S3. The prior probabilities are P(S1)=0.18, P(S2)=0.48, and P(S3)=0.34. With sample information I,P(IS1)=0.10,P(IS2)=0.04, and P(IS3)=0.22. Compute the revised or posterior probabilities: P(S1I),P(S2I), and P(S3I). If required, round your answers to four decimal places Step by Step Solution
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