Question: Problem 4-23 (Algorithmic) Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities

Problem 4-23 (Algorithmic) Suppose that you are given a decision situation with

Problem 4-23 (Algorithmic) Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities are P(S1) = 0.18, P(S2) = 0.62, and P(S3) = 0.20. With sample information I, P(I | S) = 0.12, P(I | S2) = 0.06, and P(I | S3) = 0.22. Compute the revised or posterior probabilities: P(S1 | I), P(S2 | I), and P(S3 | 1). If required, round your answers to four decimal places. State of Nature P (Sj\I) S1 .1905 Sz 0.2381 53 0.5714 Total Probability

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