Claude Vrinat, owner of Taillevent-one of Europe's most highly acclaimed restaurants-is reported to regularly sample the tastes
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Claude Vrinat, owner of Taillevent-one of Europe's most highly acclaimed restaurants-is reported to regularly sample the tastes of his patrons. From experience, Vrinat believes that the average rating (on a scale of 0 to 100) that his clients give his foie gras de canard may be viewed as normally distributed with mean 94 and standard deviation 2. A random sample of 10 diners gives an average rating of 96 and standard deviation of 1. What should be Vrinat's posterior distribution of average rating of foie gras de canard, assuming ratings are normally distributed?
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Complete Business Statistics
ISBN: 9780077239695
7th Edition
Authors: Amir Aczel, Jayavel Sounderpandian
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