The probability of a state of nature that results after using Bayes' theorem to adjust the prior probability based on sample information is called
a. joint probability.
b. conditional probability.
c. posterior probability.
d. decision probability.
c
You might also like to view...
A study of the ten characteristics that employers seek in employees identified communications as the number one skill
Indicate whether the statement is true or false
More and more companies are using online ________ to collect data from all project participants about the quality of working relations.
Fill in the blank(s) with the appropriate word(s).
Which of the following statements about a retailer's promotion strategy is true?
A. The design of the promotion strategy would be done separately from the creation of the retailing mix. B. The goal of a retail store's promotion mix is to position the store in consumers' minds. C. Most advertising for retailers is carried out at the national level. D. Retailers find direct-mail marketing inefficient. E. Retail promotion strategy does not include public relations activities.
The CEO of Big Ships knows his company has won a $2 billion contract to build ships for the Navy. He is told by the Navy to keep this quiet until the official announcement. Knowing that Big Ships stock will rise when the announcement is made, he tells his children to buy as much Big Ships stock as they can right away. He does not buy any stock. The CEO may:
a. not be sued for insider trading since he did not engage in trades; his relatives can be sued b. not be sued for insider trading because he did not engage in trades; his relatives may not be sued because they have no relation to the company c. not be sued for insider trading under the Supreme Court rule in the Dirks case d. be sued for insider trading because he gave out inside information he had a fiduciary duty to keep secret e. be sued only if his employment contract or contract with the Navy prohibits trading