Question: solve in 30 mins thanks (c) Poisson process: A group of renewable energy student have done a bachelor project where they among other things observed

solve in 30 mins thanks (c) Poisson process: A

solve in 30 mins thanks

(c) Poisson process: A group of renewable energy student have done a bachelor project where they among other things observed news on the price of electricity in the largest news channels. We will use their data to do inference on the frequency of these news items. i. The group observed 13 items in the largest news channels during the last 5 months of 2021. Use this observation together with neutral prior hyperparameters for the Poisson process to find a posterior probability distribution for the rate parameter A, the mean number of such news items per month. ii. What is the probability that there will be precisely 3 such news items next month? iii. Find the probability distribution for T+2, the waiting time for the next 2 such news items, and calculate a 90% interval estimate ("predictive interval") for T+2

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Mr. Phillips of Southwest Investment Bankers is evaluating the P/E ratio of Madison Electronics Conveyors (MEC). The firms P/E is currently 17. With earning per share of $2, the stock price is $34....

Sustainability & Corporate Social Responsibility at GE \"GE should be commended for a bold approach to climate issues. However, the company has a long way to go before it can legitimately claim to be...

Page 562 Writing Proposals and Progress Reports Chapter Outline Writing Proposals Proposal Questions Proposal Style Proposals for Class Research Projects Proposals for Action Sales Proposals Business...

Enterprise Risk Management at Hydro One (A) The Toronto skyline glittered in the early gloom of winter as chief executive Laura Formusa returned to her glass-walled office. She knew that the winter...

MGMT4308 DR. HUANG Knowledge Base for General Environmental Analysis1 The general environment is composed of factors that can have dramatic effects on firm strategy. We divide the general environment...

Please answer all questions. I need Pestle analysis, 5 force analysis or VRIO analysis done and it needs to be on this case study: IKEA's international marketing strategy in china. 4. Markets with...

During the course you will be required to develop a Course Project having to do with writing notes for the financial statements of a fictitious Company. Create Income Statement, Retained Earnings...

Hi I need this question answered. I have the SWAT analysis done so I don't need that. I need Pestle analysis, 5 force analysis or VRIO analysis done and it needs to be on this case study: IKEA's...

Today, January 23 2020 Nestl has announced plans to invest $700 million to modernise its 17 factories in Mexico and boost its production capacity in the country. As it integrates state-of-the-art...

In Your Turn 14-2, you created a use case diagram for the campus housing service that helps students find apartments. From the use cases and the use case diagram, create a class diagram for the...

Chuck and Sarah Bartowiki are married and file a joint return. Their Social Security numberi are 0 0 0 - 0 0 - 1 1 1 1 and 0 0 0 - 0 0 - 2 2 2 2 , respectively. Chuck and Sarah have two soms, Morgan,...

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...