Consider again the conditions of Exercise 3. Suppose that after a certain statistician has observed that there

Question:

Consider again the conditions of Exercise 3. Suppose that after a certain statistician has observed that there were three defective items among the 100 items selected at random, the posterior that she assigns to θ is a beta for which the mean is 2/51 and the variance is 98/[(51)2(103)]. What prior had the statistician assigned to θ?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...