Question: An office manager feels that for a certain kind of business the daily number of incoming telephone calls is a random variable having a Poisson

An office manager feels that for a certain kind of business the daily number of incoming telephone calls is a random variable having a Poisson distribution, whose parameter has a prior gamma distribution with α = 50 and β = 2. Being told that one such business had 112 incoming calls on a given day, what would be her estimate of that particular business’s average daily number of incoming calls if she considers
(a) Only the prior information;
(b) Only the direct information;
(c) Both kinds of information and the theory of Exercise 10.77?

Step by Step Solution

3.45 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a 50 2 100 b ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

583-M-S-P-E (843).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!