Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Statistics


Home >> Statistics and Probability

Roger reports:

  • I ascribe probability 0.3 to "the Philadelphia Phillies will win the World Series next year, Chris ascribes probability 0.4 to their winning the World Series and to me ascribing probability 0.4 that they will win the World Series, and Chris ascribes probability 0.6 to the Philadelphia Phillies not winning the World Series and to me ascribing probability 0.2 that they will win the World Series."
  • I ascribe probability 0.2 to "the Philadelphia Phillies will win the World Series next year, Chris ascribes probability 0.4 to their winning the World Series and to me ascribing probability 0.5 that they will win the World Series, and Chris ascribes probability 0.6 to the Philadelphia Phillies not winning the World Series and to me ascribing probability 0.8 that they will win the World Series."
  • I ascribe probability 0.4 to "the Philadelphia Phillies will win the World Series next year, Chris ascribes probability 0.2 to their winning the World Series and to me ascribing probability 0.1 that they will win the World Series, and Chris ascribes probability 0.8 to the Philadelphia Phillies not winning the World Series and to me ascribing probability 0.3 that they will win the World Series."
  • I ascribe probability 0.1 to "the Philadelphia Phillies will win the World Series next year, Chris ascribes probability 0.6 to their winning the World Series and to me ascribing probability 0.4 that they will win the World Series, and Chris ascribes probability 0.4 to the Philadelphia Phillies not winning the World Series and to me ascribing probability 0.7 that they will win the World Series."

Answer the following questions:

(a) Construct a space of states of nature corresponding to the above description.

(b) What is Roger's first-order belief? What is his second-order belief? What is his third-order belief?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92086399

Have any Question?


Related Questions in Statistics and Probability

Consider the following cash flowsyear cash flow0 -59001

Consider the following cash flows: Year Cash Flow 0 -$5,900 1 2,000 2 2,700 3 1,500 4 900 What is the payback period for the above set of cash flows? In years

When circuit boards used in the manufacture of compact disc

When circuit boards used in the manufacture of compact disc players are tested, the long  run percentage of defectives is 5%. Let X= the number of defective boards in random sample of size n=25, so X ~ Bin( 25, .05). a)  ...

What is the present value of a security that will pay 9000

What is the present value of a security that will pay $9,000 in 20 years if securities of equal risk pay 12% annually? Round your answer to the nearest cent

The ph acidity of the liquor is critical for regulating dye

The pH (acidity) of the liquor is critical for regulating dye uptake and hence the final color. There are 5 kettles, all of which receive dye liquor from a common source. Past data show that pH varies according to a Norm ...

Estimate the proportion of people in various states that

Estimate the proportion of people in various states that will use the courior services. Suppose the true proportion is 0.03. If 476 are sampled, what is the probability that the sample proportion will be less than 0.04?

Assume that the box contains 12 balls 4 red 4 green and 4

Assume that the box contains 12 balls: 4 red, 4 green, and 4 blue. Two balls are drawn at random, one after the other without replacement. What is the probability that the first ball was blue, given that the second was r ...

1nbspis the magnitude of an earthquake related to the depth

1) Is the magnitude of an earthquake related to the depth below the surface at which the quake occurs? Let  x  be the magnitude of an earthquake (on the Richter scale), and let  y  be the depth (in kilometers) of the qua ...

What are some ways being able to visually see data in a

What are some ways being able to visually see data in a graphic presentation beneficial?

A quality controller selects 8 items at a predefined

A quality controller selects 8 items at a predefined interval and found that 75% of the time the item was non-defective. Let "S" represent the occurence of a non defective item. Assuming that this experiment is Binomial: ...

1 prince georges county public schools wants to access the

1) Prince George's County Public Schools wants to access the effectiveness of its new 1st grade reading program. Ten 1st grade classrooms are randomly selected from across the county. What kind of sampling method is bein ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved