In the context of problem 15-13, a second random sample of 15 diners is asked to rate the foie gras, giving a mean rating of 95 and standard deviation of 1. Incorporate the new information to give a posterior distribution that accounts for both samplings and the prior distribution. Give a 95% HPD credible set for mean rating.
Answer to relevant QuestionsAn article in Forbes discusses the problem of oil and gas reserves around the world. Forecasting the amount of oil available is difficult. If the average number of barrels that can be pumped daily from an oil field is a ...During the Super Bowl, a 30-second commercial costs $2.5 million. The maker of Doritos corn chips was considering purchasing such an ad. The marketing director felt that there was a 0.35 probability that the commercial would ...One of the most powerful people in Hollywood is not an actor, director, or producer. It is Richard Soames, an insurance director for the London-based Film Finances Ltd. Soames is a leading provider of movie completion bond ...For problem 15-49, suppose that the engineer collects a second sample of 20 items and finds that 5 items are defective. Update the probability distribution of the population proportion you computed in problem 15-49 to ...In the situation of problem 15-8, another sample of 20 flights reveals that 18 of them are full. Obtain the second posterior distribution of the proportion of full flights. Graph the prior distribution of problem 15-8, as ...
Post your question