Complete Table 11.7. Are there any substantial changes to the original 95% credible interval (0.289, 0.516) when

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Complete Table 11.7. Are there any substantial changes to the original 95% credible interval (0.289, 0.516) when the beta(20, 40) and beta(25, 50) prior distributions are used? What does this suggest about the amount of data collected?
Table 11.7

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Practicing Statistics Guided Investigations For The Second Course

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Question Posted: Nov 23, 2015 04:30 AM

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Complete Table 11.7. Are there any substantial changes to the original 95% credible interval (0.289, 0.516) when

Question:

Properties of the Prior Distributiorn Posterior Posterior Mean Variance 95% Credible Interval 5 10 0.0139 0.20 0.50 10 | 20 |0.0072| 0.23 | 0.45 0.4000 0.3882 0.0034 0.289 0.5163 0.0028 0.2880 04934 15 30 0.0048 0.25 0.42 0.38000.0023 0.2878 0.4767 20 40 25 50 0.26 0.41 0.26 0.40

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Practicing Statistics Guided Investigations For The Second Course

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