For the second proposed prior distribution displayed in Table 11 2, find the Bayesian posterior estimate for p ( the mean of the posterior probability distribution) using the M M 's data (x 23, n 55) Compare this to our estimate p 0 358 using the quantities in Table 11 1 Which estimate is closer to...

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For the second proposed prior distribution displayed in Table 11.2, find the Bayesian posterior estimate for p

Question:

For the second proposed prior displayed in Table 11.2, find the Bayesian posterior estimate for p ( the mean of the posterior probability using the M&M's data (x = 23, n = 55). Compare this to our estimate p* = 0.358 using the quantities in Table 11.1. Which estimate is closer to E(Ï€) = 0.33? Does this make sense? Explain.
Table 11.2

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...