In Exercise 2, suppose that you feel that in comparing p = .6 and p = .4,

Question:

In Exercise 2, suppose that you feel that in comparing p = .6 and p = .4, the odds are 3-to-2 in favor of p — .6. Furthermore, in comparing p = A and p = .5, the odds are 5-to-l in favor of p = .5. On the basis of these odds, find your prior distribution for p. Does this suggest one possible approach to the assessment of a prior distribution in the discrete case?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics Probability Inference And Decision

ISBN: 9780030778056

1st Edition

Authors: Robert L. Winkler, William L. Hays

Question Posted: