Mathematics, 09.04.2021 01:20 stmy1969
You are an executive at Procter and Gamble and are about to introduce a new product. Your boss has asked you to predict the market share (Q, a proportion between 0 and 1) that the new product will capture. You are unsure of Q, and you would like to communi cate your uncertainty to the boss. You have made the following assessments: There is a l-in-10 chance that Q will be greater than 0.22, and also a l-in-10 chance that Q will be less than 0.08. The value for Q is just as likely to be greater than 0.14 as less than 0.14.
Requied:
What should your subjective probabilities P(0.08 < Q < 0.14) and P(0.14 < Q < 0.22) be in order to guarantee coherence
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You are an executive at Procter and Gamble and are about to introduce a new product. Your boss has a...
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