Refer the table below. Our original information was that the probability of High

Question

Refer the table below. Our original information was that the probability of High demand was .3. We collected the following new information about what happened to demand when there was an improving or not improving economy. Answer the below question. Based on this data, we will calculate our posterior probabilities. These are the new probabilities we will use in our trees The probability of having High demand when in the Improving Economy part of the decision tree is? Improving Economy Not improving economy Given high demand 0.51 Given Low demand 0.39 Answer Format: Number: Round to: 2 decimal places. 0.26 Correct Answer Your Answer Result Status Grading Type Variance Accepted Range 153 Auto grade 0.0% 0.26-0.26

Explanation / Answer

here I am giving solution for last question whcih is marked 22nd :( please revert if help is required in other parts cause they are not marked)

22)

P(not improving)=0.3*(1-0.19)+0.7*0.49=0.586

hence P(high demand|not improving) =0.3*(1-0.19)/0.586=0.41

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