Sample size: (a) Using prior hyperparameters (kappa_{0}=7, v_{0}=6), and (S S_{0}=17), how many observations (n) do you
Question:
Sample size:
(a) Using prior hyperparameters \(\kappa_{0}=7, v_{0}=6\), and \(S S_{0}=17\), how many observations \(n\) do you need to make in order for \(P\left(\mu \in H_{1.3}^{\mu}ight) \geq 0.9\) ?
(b) Using prior hyperparameters \(\kappa_{0}=5, v_{0}=4\), and \(S S_{0}=50\), how many observations \(n\) do you need to make in order for \(P\left(\mu \in H_{2}^{\mu}ight) \geq 0.86\) ?
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Related Book For
The Bayesian Way Introductory Statistics For Economists And Engineers
ISBN: 9781119246879
1st Edition
Authors: Svein Olav Nyberg
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