Quantitative Analysis for Management, 13/e

Long description

In the flowchart, a box titled Prior Probabilities is placed directly above a box titled New Information. Each of these boxes has a diagonal arrow leading to a box titled Bayes’ Process, which is placed to the right of the two original boxes, midway between them. There is another arrow leading from the Bayes’ Process box to a final box titled Posterior Probabilities, to illustrate how using Bayes’ Process will lead to these Posterior Probabilities.