Question 3
Consider the example of cascade discussed in the lecture but with a modification that now the urn is containing either 3 blue balls and 1 red ball or 3 red balls and 1 blue ball with equal probability. That simply means that the urn is equally likely to be blue-majority urn or red-majority urn. We assume everyone hears what the previous individuals report and get their own private signal by randomly drawing one ball from the urn.
Based on the data,answer the given subquestions
Should the first student guess the urn to be blue majority (in continuation to the previous question)?
Yes
No