Question
New information can be used to revise or update the prior probabilities so that the final decision is based on _____.
  a. more accurate probabilities for the states of nature  
  b. the opinion of the CEO  
  c. figures that were voted upon  
  d. input from a larger group of individuals  

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Math
Probability

Related Probability Q&A

Find answers to questions asked by students like you.

Q: Find the complement of the set given that  U = {x | x I and −3 ≤ x ≤ 9}. (Enter your answers as a co...

A: First write U and the given set in roster form.  

Q: Problem 2. When someone presses SEND on a cellular phone, the phone attempts to set up a call by tra...

A: Note: Hi there! Thank you for posting the question. As your question has more than 3 parts, we have ...

Q: Rework problem 15 from section 3.4 of your text, involving the production and purchase of shoes. Ass...

A: Let, N=New Zealand , K= Korea , C=Chile , R=Racing Shoe , T= Training Shoe P(N)=0.30  P(K)=0.60 P(C)...

Q: submission under "Help with Course Materials" on the "Syllabus" site. Consider the sets: A = {a, b, ...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Q 13

A: Given joint Density function is

Q: Assume that the box contains 11 balls: 1 red, 5 blue, and 5 yellow. As in the text, you draw one bal...

A: From the provided information, The box contains 11 balls in which 1 is red, 5 are blue and 5 are yel...

Q: How do I solve this

A: We will find ~q , p and ~q , ~r , (p and ~q) or ~r Note:  = and  =or T and T= T T and F= F F and T=...

Q: Find the mean, variance and standard deviation. round all answers to on decimal place.

A: Click to see the answer

Q: Assume that a fair six-sided die is rolled 9 times, and the roll is called a success if the result i...

A: Click to see the answer

Q: A class of 20 students is lined up in a random order each day to walk to lunch. What is the probabil...

A: Alex, Kobe, Maria, and Shantel  are 4 of them together and they stays in this order. So we will coun...

Q: Find the mean, variance and standard deviation. round all answers to on decimal place

A: Click to see the answer

Q: Find the mean, variance and standard deviation. round all answers to on decimal place.

A: The mean of the variable X obtained as given below: Here, X denote the observation.

Q: A spinner is broken into sections labeled 1 to 43.  What is the probability that, on your next spin,...

A: Introduction: It can be assumed that the 43 sections into which the spinner is broken, are all of eq...

Q: To offer scholarship to children of employees, a company invests $10,000 at the end of every three m...

A: a) The company will have, Thus, the company will have $637,861.7624 in scholarship funds.

Q: A grade school boy has six blue and five white marbles in his left pocket and five blue and six whit...

A: Draw the situation roughly first. Probability of drawing a blue marble from left pocket = 6/11 Prob...

Q: If $2000 is invested at 4% interest compounded quarterly, what is the future value in 7 years ?

A: Initial amount =P= 2000 Time = t = 7 years Interest rate = 4% =0.04 Number of times compounded in a ...

Q: Suppose for this problem that Pr[A|B]=1/1, Pr[A]=5/16 and Pr[B′]=15/16 (1) What is Pr[B|A]?  (2) Wha...

A:  

Q: Please explain each step, and if you use a TI-84, please include any functions you use. Thanks! Let ...

A: We have to find z-score of 50. So, z score of 50 is 0.  

Q: Problem 2. Imagine that 60 passengers on a cruise ship might be carrying a rare virus, and governmen...

A: Binomial distribution: The binomial distribution gives the probability of number of successes out of...

Q: If np 25 and ng 2 5, estimate P(at least 4) with n= 13 and p = 0.4 by using the normal distribution ...

A: Identify the correct option whether the normal approximation can be used to obtain the probability o...

Q: Rework problem 2 from section 3.4 of your text, involving probabilities on a tree diagram. Construct...

A: Click to see the answer

Q: Construct a difference table to predict the next term of the sequence. 8, 1, −2, 2, 16, 43, . .

A: The next term of the sequence is obtained below: From the given information, 8, 1, –2, 2, 16, 43 …. ...

Q: For this problem, assume there are 6 grey females, 6 grey males, 4 white females, and 3 white males....

A: Click to see the answer

Q: In a certain state, pickup trucks account for 28% of the state's registered vehicles. If 100 registe...

A: From the given information, n = 100 and p is 0.28.

Q: When treated with an antibiotic, 96% of all the dolphins are cured of an ear infection. If a group o...

A: From the given information, n = 38 and p is 0.96.

Q: X   z score     %f1    -2.13        3%2   -1.66       5%3  -1.19       10%4  -0.71       15%5  -0.24...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: If rain is falling at a rate of 2.17 inches per hour, how much rain would you expect after 3.25 hour...

A: Given, that  rain is falling at a rate of 2.17 inches per hour Means in 1 hour 2.17 inches rain fall...

Q: When the members of the Eye and I Photo Club discussed what type of film they had used during the pa...

A: Let, B&W= Black and white I=Infrared C=Color  

Q: According to the graph part c,d,e, and f

A: The probabilities are listed that were presented by the prosecution for the known characteristics of...

Q: With one method of a procedure called acceptance sampling, a sample of items is randomly selected wi...

A: Let X= number of defectives  To accept the entire batch X has to be 0. probability of getting a defe...

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest ...

A: Introduction: The premium of 7,591 silver coins charged by the insurance company is the amount that ...

Q: The overnight shipping business has skyrocketed in the last ten years. The single greatest predictor...

A: Given data           Frequency of Use High Medium Low Total < 2 per m...

Q: A spinner is used for which it is equally probable that the pointer will land on any one of six regi...

A: There are 2 regions for green.  Total number of regions = 3+2+1=6  So probability of getting green =...

Q: A man purchased a $23,000, 1-year term-life insurance policy for $400. Assuming that the probability...

A: Given that probability that he will live for another year = 0.987 Probability that he will die befor...

Q: Suppose the probability of winning a particular lottery is 1 in 15 Upper C 6 times 15C6•5 or StartFr...

A: It is given that the probability of winning the lottery is 1/25,025.

Q: The deck for a card game contains 30 cards. 10 are red, 10 are yellow, 5 are blue, 1 green, and 4 ar...

A: Combination: The number of different selections of ‘r’ elements (order doesn’t matter) from a set of...

Q: Q 14

A: Given joint Density function is  

Q: A hacker is trying to guess someone's password. The hacker knows (somehow) that the password is 3 di...

A: The total number of 3 digit long combinations possible with each digit being a number between 0 and ...

Q: 6) Suppose 78% of students say they are satisfied with their college experience. Assuming a binomial...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Annual starting salaries for college graduates with degrees in business administration are generally...

A: a.   From the given information, annual starting salaries are expected to be between $30,000 and $45...

Q: Please show steps and highlight the correct answer          For the second one you can choose more t...

A: Click to see the answer

Q: 2. A bag of candy was opened and the number of pieces was counted. The results are shown in the tabl...

A: There are total (25+20+20+15+10+10)= 100 pieces. Number of pieces that are blue or red= (25+15)=40 N...

Q: Rework problem 9 from section 3.4 of your text, involving the selection of colored balls from a box....

A: There is a total of 10 balls out of which 4 are red, 2 green and 4 blue. Two balls are drawn randoml...

Q: How do I solve this

A: We will find ~r first. Then find (p and ~r). Then we find q and (p and ~r) Note: T and T = T T and F...

Q: 1. Suppose that 2 fair dice are rolled and their sum is noted. What is the expected sum?   2. Suppos...

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...

Q: What percentage of people partake in physical activity and abstain from smoking, but do not eat frui...

A: Click to see the answer

Q: Suppose you roll a die with probability of 1 being 2/14, 2 being 1/14, 3 being 4/14, 4 being 3/14, 5...

A: Note: Hey, since there are multiple questions posted, we will answer first question. If you want any...

Q: identify the independent variable, the dependant variable and the unit of analysis of the following ...

A: According to the study, the independent variables are racial identity, sexual orientation, education...

Q: Only question 2a,b,c, and d.

A: Click to see the answer

Q: How do you find experimental probability

A: Theoretical probability: This is the probability value that is expected to happen. It is the ratio o...