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Suppose your friend buys a book and the book is either from online shopping (i.e., w₁) or physical store shopping (i.e., w₂). His satisfaction with the two methods is 0.3 and 0.7, respectively. It's known that online shopping has a 20% probability of delivering the wrong goods, while physical stores only have a 5% probability of doing so. Now he receives a book and finds it is wrong. (a) Which method do you suspect the book is purchased by? (b) The loss function is defined as: A11=1, A12=5, A21-3, A22=1. Considering the minimum risk Bayesian decision, which method do you suspect the book in purohocod bu?

Suppose your friend buys a book and the book is either from online shopping (i.e., w₁) or physical store shopping (i.e., w₂). His satisfaction with the two methods is 0.3 and 0.7, respectively. It's known that online shopping has a 20% probability of delivering the wrong goods, while physical stores only have a 5% probability of doing so. Now he receives a book and finds it is wrong. (a) Which method do you suspect the book is purchased by? (b) The loss function is defined as: A11=1, A12=5, A21-3, A22=1. Considering the minimum risk Bayesian decision, which method do you suspect the book in purohocod bu?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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Suppose your friend buys a book and the book is either from online shopping (i.e., w₁) or physical store shopping (i.e., w2). His satisfaction with the two methods is 0.3 and 0.7, respectively. It's known that online shopping has a 20% probability of delivering the wrong goods, while physical stores only have a 5% probability of doing so. Now he receives a book and finds it is wrong. (a) Which method do you suspect the book is purchased by? (b) The loss function is defined as: A11=1, A12-5, A21-3, A22=1. Considering the minimum risk Bayesian decision, which method do you suspect the book is purchased by?
Transcribed Image Text:Suppose your friend buys a book and the book is either from online shopping (i.e., w₁) or physical store shopping (i.e., w2). His satisfaction with the two methods is 0.3 and 0.7, respectively. It's known that online shopping has a 20% probability of delivering the wrong goods, while physical stores only have a 5% probability of doing so. Now he receives a book and finds it is wrong. (a) Which method do you suspect the book is purchased by? (b) The loss function is defined as: A11=1, A12-5, A21-3, A22=1. Considering the minimum risk Bayesian decision, which method do you suspect the book is purchased by?
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