Question

Question 62 pts

6. Posterior probability is the calculation of the probability of an event after it has occurred.

Group of answer choices

True

False

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Question 72 pts

7. VLOOKUP can be used to count the number of non-zero values in an array.

Group of answer choices

True

False

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Question 82 pts

8. In a decision model, states of nature should be collectively exhaustive.

Group of answer choices

True

False

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Question 92 pts

9. Bayesian reasoning is deterministic in nature.

Group of answer choices

True

False

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Question 102 pts

10. Rolling back a decision tree allows us to compute the Expected Monetary Value for a decision node.

Group of answer choices

True

False

need in 20 min

Answer 1

6. Posterior probability is not the probability of an event after it has occured. It's just the probability of observing a parameter/event, combining both the prior information as well as the lielihood due to the observed sample. (the combination is done using Bayes' theorem.) Thus, it's FALSE

7. VLOOKUP just looks up for the particular value (in this case 0). Just using VLOOKUP, we can't count the number of non-zero values. We would need to combine it with COUNTIF. Thus, the appropriate answer is FALSE.

8. This statement is TRUE. We should define states of nature in such a way, that they are collectively exhaustive.

9. Bayesian reasoning is not determining in nature. A Bayesian is not deterministic, rather expresses his/her choices with probabilities. Thus, it's FALSE.

10. TRUE. Rolling back a decision tree does allow us for the computation of EMV.