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Use Bayes' rule to find the indicated probability.
-An water well is to be drilled in the desert where the soil is either rock,clay or sand.The probability of rock P(R) = 0.53.The clay probability is P(C) = 0.21.The sand probability is P(S) = 0.26.It if it rock,a geological test gives a positive result with 35% accuracy.If it is clay,this test gives a positive result with 48% accuracy.The test gives a 75% accuracy for sand.Given the test is positive,what is the probability that soil is rock,P(rock | positive) ?
Investment
The allocation of resources, usually financial, in the expectation of generating an income or profit, including purchases of financial instruments or capital assets.
Interest Rate
The amount of a loan that is subject to interest charges for the borrower, often shown as a yearly percentage.
Wine Drinkers
Individuals who consume wine, either casually or as enthusiasts, forming a consumer base in the beverage market.
Rational Investor
An individual who makes investment decisions based on logic and available information to maximize returns and minimize risk.
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