The material I am working with:
The example that I am working on can be found on page 2, see picture at bottom of post. It is stated that "Prior odds of 99:1 ...change by the result to posterior odds 99:13.7, a 12% probability." Later it says the posterior odds are 13.7:1, so 6.7% still rather different."
What am I missing here?
Could this not be described as decimal too:
.073 * .99 = .07227
In other words 7.2%, a number different than stated in the paper
EDIT: still having trouble with final part of the problem
now solving (1-x)/x = 0.072993, we arrive at x = 93.2%
so (1-x)/x = 7.226 or x = 1/8.226 = 12.16% probability
are throwing me off