If Sample Information Is Obtained,the Result of the Sample Information

question 56

Essay

If sample information is obtained,the result of the sample information will be either positive or negative.No matter which result occurs,the choice to select option A or option B exists.And no matter which option is chosen,the eventual outcome will be good or poor.Complete the table. $\begin{array}{cccccc}\begin{array}{ccccc}\text { Sample } \\\text { Result }\end{array} & \begin{array}{c}\text { States of } \\\text { Nature }\end{array} & \begin{array}{c}\text { Prior } \\\text { Probabilities }\end{array} & \begin{array}{c}\text { Conditional } \\\text { Probabilities }\end{array} & \begin{array}{c}\text { Joint } \\\text { Probabilities }\end{array} & \begin{array}{c}\text { Posterior } \\\text { Probabilities }\end{array} \\\hline \text { Positive } & \text { good } & .7 & P(\text { positive } \mid g o o d)=.8 & & \\& \text { poor } & .3 & P(\text { positive } \mid \text { poor })=.1 & & \\\hline \text { Negative } & \text { good } & .7 & P(\text { negative } \mid g o o d)= & & \\& \text { poor } & .3 & P(\text { negative } \mid \text { poor })= &\end{array}$

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Definitions:

Cash Discount

Cash Discount is a deduction from the stated price of goods or services, offered to purchasers as an incentive for payment in cash or within a specified period.

Credit Policy Effects

The impact of a company's credit policy on its finances and sales, influencing factors like cash flow and customer loyalty.

Cost Factor

A numerical figure that represents the cost of a specific element of production or service, used in calculating the total cost.

Financing Receivables

The process of selling accounts receivable to a third party to improve cash flow and reduce risk.