H₀ and Odds on Cosmology

Recent observations by the Hubble Space Telescope of Cepheids in the Virgo cluster imply a Hubble Constant $H_0=80\pm17$\ km/sec/Mpc. We attempt to clarify some issues of interpretation of these results for determining the global cosmological parameters $\Omega$ and $\Lambda$. Using the formalism of Bayesian model comparison, the data suggest a universe with a nonzero cosmological constant $\Lambda>0$, but vanishing curvature: $\Omega+\Lambda=1$.