Answer to Question #171266 in Statistics and Probability for jannat

Question

Suppose an engineer is 95% confident that the probability of rejecting aproduct is going to be 0.5±0.2.

(a) Use this information to construct a beta prior forθ.Hint.Use normal approximation for the beta distribution.

Note that if X∼Beta(α,β),thenE[X] =α/(α+β) andV ar(X) =αβ/((α+β)^2(α+β+1)).

(b) Suppose that the engineer observed 4 rejections among 10 products. Find the poste-rior distribution for θ using the prior you proposed in (a)

Answer 1

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