Question: Let us assume that the prior distribution for the proportion p of drinks from a vending machine that overflow is p 0.05 0.10 0.15 (p)
Let us assume that the prior distribution for the proportion p of drinks from a vending machine that overflow is p 0.05 0.10 0.15
π(p) 0.3 0.5 0.2 If 2 of the next 9 drinks from this machine overflow, find
(a) the posterior distribution for the proportion p;
(b) the Bayes estimate of p.
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