The magazine Inc. recently surveyed managers to determine the proportion of managers who participate in planning meetings.

Question:

The magazine Inc. recently surveyed managers to determine the proportion of managers who participate in planning meetings. Consider the following prior probability distribution for this proportion.

Proportion .........Probability

0.80............ 0.4

0.85............ 0.5

0.90............ 0.05

0.95............ 0.04

1.00............ 0.01

If a random sample of 10 managers reveals that all of them participate in planning meetings, revise the probabilities to find the posterior probability distribution.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...