Question: Let X1, ...,Xn be a random sample from the EXP() distribution, and let the prior distribution of be EXP(). (i) Find the Bayes estimator
Let X1, ...,Xn be a random sample from the EXP(θ) distribution, and let the prior distribution of θ be EXP(β). (i) Find the Bayes estimator of θ and of μ = 1/θ
using the squared error loss. (ii) Obtain the 90% credible interval for θ and for μ if n = 6, x = 4, and β = 2.
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