The prior probabilities for events A1, A2, and A3 are P(A1) = 0.20, P(A2) = 0.50, and

Question:

The prior probabilities for events A1, A2, and A3 are P(A1) = 0.20, P(A2) = 0.50, and P(A3) = 0.30. The conditional probabilities of event B given A1, A2, and A3 are P(B | A1) = 0.50, P(B | A2) = 0.40, and P(B | A3) = 0.30.

a. Compute P(B ( A1), P(B (A2), and P(B ( A3).

b. Apply Bayes’ theorem, equation (2.16), to compute the posterior probability P(A2 | B).

c. Use the tabular approach to applying Bayes’ theorem to compute P(A1 | B), P(A2 | B), and P(A3 | B).

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Quantitative Methods For Business

ISBN: 148

11th Edition

Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam

See More Books

Question Posted: Aug 01, 2012 03:12 AM

See More Questions

The prior probabilities for events A1 and A2 are P(A1) = .40 and P(A2) = .60. It is also known that P(A1 ( A2) = 0. Suppose P(B | A1) = .20 and P(B | A2) = .05. a. Are A1 and A2 mutually exclusive?...
The discrepancies between p-values and Bayes posterior probabilities are not as dramatic in the one-sided problem, as is discussed by Casella and Berger (1987) and also mentioned in the Miscellanea...
Events A1 and A2 are such that A1 A2 = S and A1 A2 =. Find p2 if P (A1) = p1, P (A2) = p2, and 3p1 p2 = 1 / 2.
The Commerce Department reported that in December 2015, retail sales rose by 0.2, net exports decreased, inventories held by businesses rose by 0.1 percent, and total sales by businesses fell by 0.6...
Sub Station and Planet Sub reported the following selected financial data ($ in thousands). Sub Station's business strategy is to sell the best tasting sandwich with the highest Planet Sub's business...
Use Excels Random Number Generation tool.
1. How would you describe Sunset Boardss cash flows for 2018? Write a brief discussion. 2. In light of your discussion in the previous question, what do you think about Tads expansion plans? Sunset...
Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2016: Additional information: (a) On January 1, 2016, the...
Waterway Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1 , 2 0 2 5 . The terms of acquisition for each truck...
A population of virus reproduces 5 copies of itself for every infected cell. If there were initially only 3 virus and now there are 57 220 458 984 375, how many cells have been infected?
A company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 6% of the employees had lost-time accidents last year. Management believes...
A consulting firm submitted a bid for a large research project. The firms management initially felt there was a 50/50 chance of getting the bid. However, the agency to which the bid was submitted...
Use the figures in Table 2.4 to answer the following questions. a. For the period 1970-2005 compute the rate of growth in federal receipts (as a percent of GDP) for each five year period. Identify...
Use as many directional terms as possible to describe therelationshipbetween: a. the antecubital region and the poplitealregion b. the acromial region and the mentalregion c. the gluteal region and...
Average rate of return-cost savings Maui Fabricators Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost of $114,000 with a $10,000 residual value...
Alan was rated as excellent on his individual work performance evaluation, earning him $2,000, provided as a merit pay increase. His annual salary this year is $48,000. He works in a team of 3...
Josie spends $60 at the end of each month on cigarettes. If shestops smoking and invests the same amount in an investment planpaying 6% compounded monthly, how much will she have after fiveyears? 2...
Say we have a Boeing 747 whose longitudinal flight dynamics for a given flight condition may be approximated using the following state equation (uncontrolled motion; thus no need to consider the...
Uncertainty. Chester Steel Fabrication (CSF) is considering submitting a bid to construct a metal bridge for a new highway. The company controller thinks that a bid of $2,500,000 will cover both the...
Is the modified 5-question approach to ethical decision making superior to the modified moral standards or modified Past in approach?
Select a business with which you are familiar and identify examples of customers using search, experience, and credence quality to evaluate the good or service. You might also research the businesses...
Does the following linear program involve infeasibility, unbounded, and/or alternative optimal solutions? Explain. Max 4A + 8B s.t. 2A + 2B 10 -1A + 1B 8 A, B 0
Does the following linear program involve infeasibility, unbounded, and/or alternative optimal solutions? Explain. Max 1A + 1B s.t. 8A + 6B 24 2B 4 A, B 0
Consider the following linear program: Max 1A + 1B s.t. 5A + 3B 15 3A + 5B 15 A, B 0 a. What is the optimal solution for this problem? b. Suppose that the objective function is changed to 1A + 2B....
the internal operation rulea of cooperation are known As ?
"When it comes to audit sampling, both statistical and non-statistical sampling are equally effective." Defend or refute the preceding statement. (1 Mark).
ACC 2 0 2 Milestone One: Operational Costs Data Appendix You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use for...

The prior probabilities for events A1, A2, and A3 are P(A1) = 0.20, P(A2) = 0.50, and

Question:

Step by Step Answer:

a PB A 1 PA 1 PB A 1 020050 0...View the full answer

Quantitative Methods For Business

Students also viewed these Statistics questions