for thepriordistributionfor 0. Showthatshrinking 0 far fromtheleastsquaresestimateof28.2toward0alsoforcesdramaticchangesin the otherBayesianposteriormeanestimates. (c) With = 10 and similarresultsaswithleastsquares,explaindifferencesbetweenthe interpretationsoftheBayesianposterior

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for thepriordistributionfor β0. Showthatshrinking

β0 far fromtheleastsquaresestimateof28.2toward0alsoforcesdramaticchangesin the otherBayesianposteriormeanestimates.

(c) With τ = 10 and similarresultsaswithleastsquares,explaindifferencesbetweenthe interpretationsoftheBayesianposterior P(β1 ≤ 0) and theclassical P-valuefortesting H0: β1 = 0 against Ha: β1 > 0.

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Foundations Of Statistics For Data Scientists With R And Python

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for thepriordistributionfor 0. Showthatshrinking 0 far fromtheleastsquaresestimateof28.2toward0alsoforcesdramaticchangesin the otherBayesianposteriormeanestimates. (c) With = 10 and similarresultsaswithleastsquares,explaindifferencesbetweenthe interpretationsoftheBayesianposterior

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