Question: Suppose that you are given a decision situation with three possible states of nature: 51, 52, and 53. The prior probabilities are P(51)-0.2, P(52)=0,5, and

Suppose that you are given a decision situation with three possible states of nature: 51, 52, and 53. The prior probabilities are P(51)-0.2, P(52)=0,5, and P(53)=0.3. With sample information J, P[/|51)-0.03, PU|s2) 0.05, and Ps3)=0.2. Compute the revised (or posterior) probabilities: P(511), P(521D), and P(531). Round yur answers to three decimal places. P($111- 190 P/s2|- 2381 P(S311- .5714

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