The probability of the states of nature, after use of Bayes' theorem to adjust the prior probabilities based on given indicator information, is called _____.
a. marginal probability
b. conditional probability
c. posterior probability
d. None of the answers is correct.
Question 2
The probability of reaching an absorbing state is given by the
a. R matrix.
b. NR matrix.
c. Q matrix.
d. (I - Q)-1 matrix