Suppose that the number of defects in a 1200 foot roll of magnetic recording tape has a Poisson distribution for which the value of the mean is unknown, and the prior distribution of is the gamma distribution with parameters 3 and 1 When five rolls of this tape are selected at random and inspected,...

It was shown in Exercise 5 of Sec 73 that ...

Suppose that the number of defects in a 1200-foot roll of magnetic recording tape has a Poisson

Question:

Suppose that the number of defects in a 1200-foot roll of magnetic recording tape has a Poisson for which the value of the mean θ is unknown, and the prior of θ is the gamma with parameters α = 3 and β = 1. When five rolls of this tape are selected at random and inspected, the numbers of defects found on the rolls are 2, 2, 6, 0, and 3. If the squared error loss function is used, what is the Bayes estimate of θ?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...