The magazine Inc recently surveyed managers to determine the proportion
The magazine Inc. recently surveyed managers to determine the proportion of managers who participate in planning meetings. Consider the following prior probability distribution for this proportion.
Proportion ......... Probability
0.80............ 0.4
0.85............ 0.5
0.90............ 0.05
0.95............ 0.04
1.00............ 0.01
If a random sample of 10 managers reveals that all of them participate in planning meetings, revise the probabilities to find the posterior probability distribution.
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