Question: Probability and Statistics Let X be the binomial random variable with parameter m = 50 and 6 unknown. Suppose that the prior pdf WWW is

Probability and Statistics

WWW is the beta pdf with parameter oz = 100 and =

50. Suppose that we have performed n = 2 experiments with $1

= 10 and $2 = 35. (a) Show that the posterior pdf

Let X be the binomial random variable with parameter m = 50 and 6 unknown. Suppose that the prior pdf WWW is the beta pdf with parameter oz = 100 and = 50. Suppose that we have performed n = 2 experiments with $1 = 10 and $2 = 35. (a) Show that the posterior pdf 713,03: is a constant multiple of the beta pdf with some parameter 04' and 6', and compute a," and '. (Hint: you do not need to compute K!)

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5. How quickly can we manage to collect the information?

3. Tactical/strategic information.

3. To retrieve information from memory.