37. In Exercise 36, suppose that sample information is available in the form of a random sample...

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37. In Exercise 36, suppose that sample information is available in the form of a random sample of consumers. For a sample of size one,

(a) find the posterior distribution if the one person sampled will purchase the item, and find the value of this sample information

(b) find the posterior distribution if the one person sampled will not pur¬

chase the item, and find the value of this sample information

(c) find the expected value of sample information.

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Statistics Probability Inference And Decision

ISBN: 9780030778056

1st Edition

Authors: Robert L. Winkler, William L. Hays

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Question Posted: Sep 21, 2024 10:04 AM

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37. In Exercise 36, suppose that sample information is available in the form of a random sample...

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Statistics Probability Inference And Decision

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