Suppose that X1, , Xn form a random sample from the exponential distribution with parameter Let the prior distribution of be improper with p d f 1 for 0 Find the posterior distribution of and show that the posterior mean of is 1 Xn ...

The posterior pdf is proportional to the likelihood n e ...

Suppose that X1, . . . , Xn form a random sample from the exponential distribution with

Question:

Suppose that X1, . . . , Xn form a random sample from the exponential with parameter θ. Let the prior of θ be improper with “p.d.f.” 1/θ for θ > 0. Find the posterior of θ and show that the posterior mean of θ is 1/Xn. 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...