Repeat Exercise 22.25 with the following prior probabilities. P(s 1 ) = .90 P(s 2 ) =

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Repeat Exercise 22.25 with the following prior probabilities.
P(s1) = .90 P(s2) = .05 P(s3) = .05

In exercise 22.25

Given the following payoff table, prior probabilities, and likelihood probabilities, find the expected value of sample information.

Payoff Table

az a, 60 90 90 90 S2 S3 150 90


Prior probabilities

PIG,) = PS) = PSs) = P(s,) = P(s) : P(s,) = 3 3


Likelihood Probabilities

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