Use Bayes S Rule to Compute Probabilities
-Suppose That There $\frac { 1 } { 3 }$

question 28

Multiple Choice

Use Bayes s Rule to Compute Probabilities
-Suppose that there are two buckets. Bucket 1 contains 3 tennis balls and 5 ping -pong balls. Bucket 2 contains 4 tennis balls, 3 ping-pong balls, and 5 baseballs. An unfair coin will decide from which bucket we draw. Heads implies we draw from Bucket 1 and tails implies we draw from Bucket 2. The probability of a heads is $\frac { 1 } { 3 }$ and the probability of a tails is $\frac { 2 } { 3 }$ . Given that a ping-pong ball was selected what is the probability that it came from Bucket 2?

• A) \(0.444\)
• B) \(0.555\)
• C) \(0.625\)
• D) \(0.250\)

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Definitions:

Monopolist

A monopolist is an entity or firm that has exclusive control over a market for a particular good or service, enabling it to adjust prices without direct competition.

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