In the latest version of Kaplan textbook on pg 257 ,I don't understand the sentence in the part (b) of the example of "The value of imperfect information" which states "If there is oil,the probability that she will say there are good prospects is 95 %. If there is no oil ,the probability that she will say prospect are poor is 85% ." as well as the solution provided on the next page as it's assuming 1,000 drills in total.I don't understand the probability calculated in the solution,can tutor help me to clarify this?Thank you.
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Kaplan textbook-value of imperfect information
8y ago#1Sorry, but I do not have the Kaplan textbook.
(If you are watching my free lectures then you don't really need a text book - the lectures are a complete free course for Paper F5 and cover everything needed to be able to pass the exam well. The book that really is essential is the Exam Kit, because question practice is so important to passing the exam.)
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