Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1 to N. You see a cable car at random; it is numbered 203. You wish to estimate N. (See Goodman, 1952, for a discussion and references to several versions of this problem, and Jeffreys, 1961, Lee, 1989, and Jaynes, 2003, for Bayesian treatments.) (a) Assume your prior distribution on N is geometric with mean 100; that is, p(N) = (1/100)(99/100)N-1, for N = 1,2,.... What is your posterior distribution for N? (b) What are the posterior mean and standard deviation of N? (Sum the infinite series analytically or approximate them on the computer.) (c) Choose a reasonable 'noninformative' prior distribution for N and give the resulting posterior distribution, mean, and standard deviation for N. Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1 to N. You see a cable car at random; it is numbered 203. You wish to estimate N. (See Goodman, 1952, for a discussion and references to several versions of this problem, and Jeffreys, 1961, Lee, 1989, and Jaynes, 2003, for Bayesian treatments.) (a) Assume your prior distribution on N is geometric with mean 100; that is, p(N) = (1/100)(99/100)N-1, for N = 1,2,.... What is your posterior distribution for N? (b) What are the posterior mean and standard deviation of N? (Sum the infinite series analytically or approximate them on the computer.) (c) Choose a reasonable 'noninformative' prior distribution for N and give the resulting posterior distribution, mean, and standard deviation for N.
Expert Answer:
Related Book For
Physics for Scientists and Engineers A Strategic Approach with Modern Physics
ISBN: 978-0133942651
4th edition
Authors: Randall D. Knight
Posted Date:
Students also viewed these physics questions
-
The cable cars in San Francisco are pulled along their tracks by an underground steel cable that moves along at 9.5 mph. The cable is driven by large motors at a central power station and extends,...
-
Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC = 2q2, where q is the amount that an individual firm produces. This means that an...
-
Suppose there are n identical firms in a Cournot equilibrium. Show that the absolute value of the elasticity of the market demand curve must be greater than 1/n.
-
Consider the following hypotheses: H 0 : = 140 H 1 : 140 Given that x = 148.1, s = 37.5, n = 20, and = 0.02, answer the following questions: a. What conclusion should be drawn? b. Use PHStat to...
-
Let X be exponential with expected value 3. Let Y be another random variable that depends on X as follows: if X > 5, then Y = X - 5; otherwise, Y = 0. a. Find the expected value of Y. b. Find the...
-
A man having a weight of 175 lb attempts to hold himself using one of the two methods shown. Determine the total force he must exert on bar AB in each case and the normal reaction he exerts on the...
-
An engineer prepares a report to evaluate a project using PW and IRR. Just before submitting the report, he spills coffee on it, making the first digit of the 2-digit IRR unreadable. The second digit...
-
Compute the amount and percentage changes for Rivera Companys comparative balance sheets, and comment on the changes from 2013 to 2014. (Round the percentage changes to one decimalplace.) Rivera...
-
3. (L)Explain the four terms in the equation below, and why this equation has to be true by definition. Explain the assumption that allows us to use this equation to determine the agricultural...
-
Using dimensional equations, convert (a) 2 wk to microseconds. (b) 38.1 ft/s to kilometers/h. (c) 554 m 4 / (day kg) to ft 4 / (min lbm).
-
George is hoping to retire early but is unsure if he has earned enough credits. Which example explains the earliest age he can retire with Social Security benefits and the number of credits he needs?...
-
How effective are the oversight mechanisms in ensuring that U.S. tax dollars allocated for assistance to Ukraine are used appropriately and not subjected to fraud or other criminal activities?
-
A large asteroid of mass 82500 kg is at rest far away from any planets or stars. A much smaller asteroid, of mass 740 kg, is in a circular orbit about the large asteroid at a distance of 146 m as a...
-
A project has annual cash flows of $3,500 for the next 10 years and then $11,000 each year for the following 10 years. The IRR of this 20-year project is 10%. If the firm's WACC is 9%, what is the...
-
Students in a high school class of 135 students were asked which social media platform (a platform is a Web or application) they preferred. A sample of 200 adults ages 25-34 was asked the same...
-
Burger World Inc considers an expansion project. It currently has 10 million outstanding shares trading at $30 per share. Equity has an estimated beta of 1.5. The risk-free rate is 2.5%, while the...
-
what type of source will you include in your exploration strategy? Secondary source Digital source Internal source Tertiary source Primary source
-
Reconsider Prob. 1474. In order to drain the tank faster, a pump is installed near the tank exit as in Fig. P1475. Determine how much pump power input is necessary to establish an average water...
-
An electric eel develops a 450 V potential difference between its head and tail. The eel can stun a fish or other prey by using this potential difference to drive a 0.80 A current pulse for 1.0 ms....
-
Potassium and gold cathodes are used in a photoelectric effect experiment. For each cathode, find: a. The threshold frequency. b. The threshold wavelength. c. The maximum photoelectron ejection speed...
-
The number density in a container of neon gas is 5.00 10 25 m -3 . The atoms are moving with an rms speed of 660 m/s. What are (a) The temperature (b) The pressure inside the container?
-
What is the difference between internal and external audiences?
-
Like most major corporations, the U.S. Census Bureau has multiple, conflicting audiences, among them the president, Congress, press, state governments, citizens (both as providers and users of data),...
-
Listed here are several things an organization might like its employees to do: 1. Write fewer emails. 2. Volunteer at a local food pantry. 3. Volunteer to recruit interns at a job fair. 4. Attend...
Study smarter with the SolutionInn App