Question: Payoff Table: Choices: D 1 , D 2 , D 3 . States of Nature: S 1 , S 2 , S 3 . Profit

Payoff Table: Choices: D1, D2, D3. States of Nature: S1, S2, S3. Profit( in millions) for each of the States of Nature are given below: For D1: $100, $400, $500. For D2:-$100, $500, $900. For D3: -$200, $500, $1600. P(s1)=0.4, P(s2)=0.4, P(s3)=0.2. Sample Information Data: Market Research Firm provides following data: conditional probabilities: P(Fav/s1)=0.40, P(Fav/s2)=0.5, P(Fav/s3)=0.9. Then P(s1/Fav)=
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0.296
0.874
0.756

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