Question: marketing research study. The following probabilities apply. CONDITIONAL PROBABILITY GIVEN DEMAND Weak Moderate Strong 10,000 .6 .3 .1 15,000 .3 .5 .2 20,000 .1 .2

marketing research study. The following probabilities apply. CONDITIONAL PROBABILITY GIVEN DEMAND Weak Moderate Strong 10,000 .6 .3 .1 15,000 .3 .5 .2 20,000 .1 .2 . '7 Find the posterior probabilities with this information. 6.Compute (1) the EVEI and [2) the expected net gain of experiment when the demand forecast experiment has a cost of $ 50. 7.Titne will only permit Hoopla to use on source of information. To maximize expected payoff, should Hoopla request the marketing research study or the demand forecast experiment

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