You are estimating the proportion of Macintoshes among the laptops of a rather large company. Your prior
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You are estimating the proportion of Macintoshes among the laptops of a rather large company. Your prior hyperparameters are \(a_{0}=7\) and \(b_{0}=3\). You ask 10 laptop-using colleagues; 8 of them are on a Macintosh. What are now your posterior hyperparameters for the proportion of MacBooks?
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Related Book For 
The Bayesian Way Introductory Statistics For Economists And Engineers
ISBN: 9781119246879
1st Edition
Authors: Svein Olav Nyberg
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