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3.1: Conditional Probability
https://stats.libretexts.org/Bookshelves/Probability_Theory/Applied_Probability_(Pfeiffer)/03%3A_Conditional_Probability/3.01%3A_Conditional_Probability
If H is the event the national market is favorable and E is the event the test market is favorable, data are a prior estimate \(P(H)\) of the likelihood the national market is sound, and data \(P(E|H)...If H is the event the national market is favorable and E is the event the test market is favorable, data are a prior estimate \(P(H)\) of the likelihood the national market is sound, and data \(P(E|H)\) and \(P(E|H^c)\) indicating the reliability of the test market.

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