Explain what occurs in the accompanying figure.
Definitions:
Perfect Information
A situation in decision theory in which all participants have complete and accurate information about all aspects relevant to the decision.
Lingerie Store
A retail outlet specializing in the sale of women's underwear, sleepwear, and similar intimate apparel.
Posterior Probabilities
The probabilities assigned to statistical outcomes after taking into consideration prior probability distribution and current evidence.
Prior Probabilities
The probabilities of different possible outcomes or hypotheses as assessed before any relevant evidence is taken into account.
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