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Probability that the detector indicates sunshine

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Reference no: EM131754964

Question: Recall Kim's party decision. What is the minimum "accuracy" that a rain detector would need for Kim to be willing to pay $10 for its use in helping her make her party decision? By "accuracy," we mean the probability that the detector indicates Sunshine when it will actually be sunny, which equals the probability that the detector indicates Rain when it will actually be rainy.

a. 90%

b. 83%

c. 57%

d. None of the above

Reference no: EM131754964

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