Suppose that the proportion of defective items in a large shipment is unknown and that the prior distribution of is the beta distribution with parameters 2 and 200 If 100 items are selected at random from the shipment and if three of these items are found to be defective, what is the posterior dist...

Since the observed number of defective items ...

Suppose that the proportion of defective items in a large shipment is unknown and that the

Question:

Suppose that the proportion θ of defective items in a large shipment is unknown and that the prior of θ is the beta with parameters 2 and 200. If 100 items are selected at random from the shipment and if three of these items are found to be defective, what is the posterior of θ?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...