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State of Nature P (Sj|I) S1 S2 S3 Suppose that you are given a decision situation...

State of Nature P (Sj|I)
S1
S2
S3

Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities are P(S1) = 0.24, P(S2) = 0.60, and P(S3) = 0.16. With sample information I, P(I | S1) = 0.10, P(I | S2) = 0.07, and P(I | S3) = 0.18. Compute the revised or posterior probabilities: P(S1 | I), P(S2 | I), and P(S3 | I). If required, round your answers to four decimal places.

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Answer: ---- Date: ----27/6/2019

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