Let us first verify that the beta prior given in this section does indeed agree with the Vice President's specifications Suppose 0 has a Beta(12 05, 116 06) distribution Use R to compute Pr(0 0 05) and Pr(020 15) (ii) Suppose the Vice President wishes to revise his prior distribution He now believes that Pr(0 0 05) 0 01 and Pr(02 0 15) 0 01 Can you use R to find a beta distribution with these properties, at least approximately Hint try multiplying the two parameters (of the beta) by the same constant (iii) Plot the two beta priors in (i) and (ii) in the same graph Which one is a more informative prior Explain, based on the shape of these distributions

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Question: Let us first verify that the beta prior given in this section does indeed agree with the Vice President's specifications. Suppose 0 has a

Let us first verify that the beta prior given in this section does indeed agree with the Vice President's specifications. Suppose 0 has a Beta(12.05, 116.06) distribution. Use R to compute Pr(0

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