Question: The Pareto distribution with parameters x0 and (x0 > 0 and > 0) is defined in Exercise 16 of Sec. 5.7. Show that
The Pareto distribution with parameters x0 and α (x0 > 0 and α > 0) is defined in Exercise 16 of Sec. 5.7. Show that the family of Pareto distributions is a conjugate family of prior distributions for samples from a uniform distribution on the interval [0, θ], where the value of the endpoint θ is unknown.
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