In the situation of problem 15-8, another sample of 20 flights reveals that 18 of them are

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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 well as the first posterior and the second posterior distributions. How did the distribution of the proportion in question change as more information became available?

S .....P(S)

0.70 ....0.1

0.75 .....0.2

0.80 .....0.3

0.85 .....0.2

0.90 .....0.1

0.95 .....0.1

1.0

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...
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Complete Business Statistics

ISBN: 9780077239695

7th Edition

Authors: Amir Aczel, Jayavel Sounderpandian

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