You have a model that classifies Federal Reserve statements as either bullish or bearish. When the Fed

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You have a model that classifies Federal Reserve statements as either bullish or bearish.

When the Fed makes a bullish announcement, you expect the market to be up 75%

of the time. The market is just as likely to be up as it is to be down or flat, but the Fed makes bullish announcements 60% of the time. What is the probability that the Fed made a bearish announcement, given that the market was up?

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