Explain the parametrization of a normal prior distribution in terms of N' and M', as given in
Question:
Explain the parametrization of a normal prior distribution in terms of N'
and M', as given in Section 8.12. How does this parametrization help us to see the relative weights of the prior and the sample information in computing the mean of the posterior distribution? For the prior and posterior distribu¬
tions in Exercise 11, express the distributions in terms of N' and M'. How could you interpret this prior distribution in terms of an equivalent sample?
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Related Book For
Statistics Probability Inference And Decision
ISBN: 9780030778056
1st Edition
Authors: Robert L. Winkler, William L. Hays
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