Setting parameters for a beta prior distribution: suppose your prior distribution for 0, the proportion of...

 

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Setting parameters for a beta prior distribution: suppose your prior distribution for 0, the proportion of Californians who support the death penalty is beta with mean 0.6 and standard deviation 0.3. (a) Determine the parameter a and 3 of your prior distribution. (b) A random sample of 1000 Californians is taken, and 65% support the death penalty. What are your posterior mean and variance for 0? Draw the posterior density function. Setting parameters for a beta prior distribution: suppose your prior distribution for 0, the proportion of Californians who support the death penalty is beta with mean 0.6 and standard deviation 0.3. (a) Determine the parameter a and 3 of your prior distribution. (b) A random sample of 1000 Californians is taken, and 65% support the death penalty. What are your posterior mean and variance for 0? Draw the posterior density function.

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Given The prior distribution for 0 death penalty support by proportion of Cali... View the full answer