Suppose that the parts produced by a machine can have three different levels of functionality working, impaired, defective Let p1, p2, and p3 1 p1 p2 be the probabilities that a part is working, impaired, and defective, respectively Suppose that the vector p (p1, p2) is unknown but has a joint dist...

Let the data be called X X 1 X 2 X 3 with X 1 being the number of worki ...

Suppose that the parts produced by a machine can have three different levels of functionality: working, impaired,

Question:

Suppose that the parts produced by a machine can have three different levels of functionality: working, impaired, defective. Let p1, p2, and p3 = 1ˆ’ p1 ˆ’ p2 be the probabilities that a part is working, impaired, and defective, respectively. Suppose that the vector p = (p1, p2) is unknown but has a joint with p.d.f.

Suppose that we observe 10 parts that are conditionally independent given p, and among those 10 parts, eight are working and two are impaired. Find the conditional p.d.f. of p given the observed parts. You might find Eq. (5.8.2) helpful.

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...