Question: Consider the situation of Exercise 2. (a) Determine the - and -fractiles of your prior density for 0. (b) Find the normal density matching these
Consider the situation of Exercise 2.
(a) Determine the - and -fractiles of your prior density for 0.
(b) Find the normal density matching these fractiles.
(c) Find, subjectively, the and -fractiles of your prior distribution for 8, (Do not use the normal distribution from
(b) to obtain these.) Are these consistent with the normal distribution in (b)? Is the normal density a good fit for your prior density of 0?
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