Consider the calorie count data described in Example 7 3 10 on page 400 Now assume that each observation has the normal distribution with unknown mean and unknown precision given the parameter (, ) Use the normal gamma conjugate prior distribution with prior hyperparameters 0 0, 0 1, 0 1, and 0 60 ...

The data summaries in Example 7310 are n 20 20 0125 Combine these ...

Consider the calorie count data described in Example 7.3.10 on page 400. Now assume that each observation

Question:

Consider the calorie count data described in Example 7.3.10 on page 400. Now assume that each observation has the normal with unknown mean μ and unknown precision τ given the parameter (μ, τ). Use the normal-gamma conjugate prior with prior hyperparameters μ0 = 0, λ0 = 1, α0 = 1, and β0 = 60. The value of s2n is 2102.9.
a. Find the posterior of (μ, τ).
b. Compute Pr(μ > 1|x).
Distribution
The 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...