Question: 2. Waiting time. The waiting time for a bus at a given corner at a certain time of day is known to have a U

2. Waiting time. The waiting time for a bus at a

2. Waiting time. The waiting time for a bus at a given corner at a certain time of day is known to have a U (0, 6) distribution. It is desired to test H0 : O S 6 5 15 versus H1 : 19 > 15. From other similar routes, it is known that (9 has a Paret0(5, 3) distribution. If waiting times of 10, 3, 2, 5, and 14 are observed at the given corner, calculate the posterior odds ratio and the Bayes factor. Which hypothesis would you favor? Note: the density of a Pareto distribution with parameters (5, 7) is given by , 75\" 23(55, 5: ,7) = $7+1I(,00)(x)

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