Question

An article in the Harvard Business Review discusses new products and services offered by the famous British department store Marks & Spencer.3 Suppose that Marks & Spencer plans to offer a new line of women's shoes and estimates the proportion of its customers who will be interested in the new line using the following probability distribution:
Proportion ... Probability
0.3 ....... 0.1
0.4 ....... 0.3
0.5 ....... 0.3
0.6 ....... 0.2
0.7 ....... 0.05
0.8 ....... 0.05
A survey of 20 randomly selected customers reveals that 5 of them are interested in the new line. Compute the posterior probability distribution.


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  • CreatedJune 04, 2015
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