Quantitative Analysis for Management, 13/e

Long description

On screen text reads “Fill in cells B 7, B 8, and C 7.” Two data tables – Probability Revisions Given a Positive Survey and Probability Revisions Given a Negative Survey – appear on the screen. Probability Revisions for a positive survey are calculated at 0.45, while Probability Revisions for a negative survey are calculated at 0.55.

Each probability revision table consists of five columns of four rows each.

The Probability Revisions Given a Positive Survey table is as follows:

Column A, descending:

• State of Nature

• FM

• UM

Column B, descending:

• P open parens Sur. Pos.

• 0.7

• 0.2

Column C, descending:

• Prior Prob.

• 0.5

• 0.5

• P open parens Sur.pos closed parens equals

Column D, descending:

• Joint Prob

• 0.35

• 0.1

• 0.45 appears in bold text

Column ...