Question: Bayesian Statistics for Estimation Now, we have the proper prior () ~ Exp(a), (a>0). Conditional on , we have observations X_1,X_2,..., X_n ~iid N(, 1).
Bayesian Statistics for Estimation Now, we have the proper prior () ~ Exp(a), (a>0). Conditional on , we have observations X_1,X_2,..., X_n ~iid N(, 1). You may assume that a<24_(i=1)^nX_i . Compute the posterior distribution ( | X_1,X_2,..., X_n ), then provide the following statistics on the posterior distribution. Compute the Median and Mode!
Write Phi for the CDF function () and PhiInv for its inverse.
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