Question: Suppose that X1, . . . , Xn form a random sample from the normal distribution with unknown mean and unknown precision ,

Suppose that X1, . . . , Xn form a random sample from the normal distribution with unknown mean μ and unknown precision τ , and also that the joint prior distribution of μ and τ is the normal-gamma distribution satisfying the following conditions: E(μ) = 0, E(τ ) = 2, E(τ2) = 5, and Pr(|μ| < 1.412) = 0.5. Determine the prior hyperparameters μ0, λ0, α0, and β0.

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Since E 00 2 and Var 0 2 0 E 2 E 2 1 then 0 4 and 0 2 Also 0 E 0 There... View full answer

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