Question: Suppose that a data-generating process is a normal process with unknown mean and with known variance 225. A sample of size 9 is taken from
Suppose that a data-generating process is a normal process with unknown mean and with known variance 225. A sample of size 9 is taken from this process with the sample results: 42,56, 68, 56, 48, 36, 45, 71, 64. Suppose your prior judgements about can be represented by a normal distribution with mean 50 and variance 14.
(a) What is your posterior distribution for ?
(b) Using your posterior distribution, find P( > 50*y).
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