Suppose that you are given a decision situation with three possible states of nature s 1 , s 2 , and s 3 The prior probabilities are P ( s 1 ) 0 2, P ( s 2 ) 0 5, and P ( s 3 ) 0 3 With sample information I , P ( I s 1 ) 0 12, P ( I s 2 ) 0 05, and P ( I s 3 ) 0 2 Compute the revised (or posterior) probabilities P ( s 1 I ), P ( s 2 I ), and P ( s 3 I ) Round your answers to three decimal places

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Question: Suppose that you are given a decision situation with three possible states of nature: s 1 , s 2 , and s 3 . The

Suppose that you are given a decision situation with three possible states of nature: s₁, s₂, and s₃. The prior probabilities are P(s₁)=0.2, P(s₂)=0.5, and P(s₃)=0.3. With sample information I, P(I|s₁)=0.12, P(I|s₂)=0.05, and P(I|s₃)=0.2. Compute the revised (or posterior) probabilities: P(s₁|I), P(s₂|I), and P(s₃|I). Round your answers to three decimal places.

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