Suppose that X is a normal random variable with unknown mean and known variance 2 =

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Suppose that X is a normal random variable with unknown mean and known variance σ2 = 9. The prior distribution for μ is normal with μ0 = 4 and σ20 = 1. A random sample of n = 25 observations is taken, and the sample mean is x = 4.85. 

(a) Find the Bayes estimate of μ.

(b) Compare the Bayes estimate with the maximum likelihood estimate.

Distribution
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Applied Statistics And Probability For Engineers

ISBN: 9781118539712

6th Edition

Authors: Douglas C. Montgomery, George C. Runger

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