Question: Let 1. . . 5 be identically independently distributed (iid) variables sampled from a binomial distribution Bin(3,p). a) Compute the likelihood function (LF). b) Adopt

Let 1. . . 5 be identically independently distributed (iid) variables sampled from a binomial distribution Bin(3,p).

a) Compute the likelihood function (LF).

b) Adopt the appropriate conjugate prior to the parameter p, choosing hyperparameters optionally within the support of distribution.

c) Using (a) and (b), find the posterior distribution of p.

d) Compute the minimum Bayesian risk estimator of p.

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