Question: Refer to the following payoff table: table [ [ Alternative , States of Nature ] , [ High , Low ] , [ Buy

Refer to the following payoff table:
\table[[Alternative,States of Nature],[High,Low],[Buy,,60,12],[Rent,,19,80],[Prior,Probability,0.70,0.30]]
There is an option of paying $100 to have research conducted to better predict which state of nature will occur. When the true state of nature is High, the research will accurately predict High 75% of the time. When the true state of nature is Low, the research will accurately predict Low 75% of the time.
Given that the research is conducted, what is the joint probability that the state of nature is High and the research predicts Low? Note: Round your answer to 2 declmal places.
\table[[Joint Probabilty ,0.16
Refer to the following payoff table: \ table [ [

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