3:14 PM csepub.com Verizon #5 The following are the results from Calculate New P

Question

3:14 PM csepub.com Verizon #5 The following are the results from Calculate New Probabilities 1 (Video Chapt 6 part 2C). They are our joint and marginal probabilities. Improving Not improving Economy economy Given high demand Given Low demand Based on this data, we will calculate our posterior probabilities. These are the new probabilities we will use in our trees. 0.35 0.13 0.17 0.35 The probability of having an Improving Economy (ending up in the Improving Economy part of the decision tree) is? Hide Answer Format: Number: Round to: 2 decimal places. Enter Answer Here...

Explanation / Answer

The table given below ,

Therefore , the probability of having an improving economy = 0.35+0.17 = 0.52  

Improving Economy Not improving economy Total Given high demand 0.35 0.13 0.48 Given low demand 0.17 0.35 0.52 Total 0.52 0.48 1

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