Consider n = 40 observations 11,..., In from a Normal distribution with mean p and variance o?. We know that i = 31.2 52

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Consider N 40 Observations 11 In From A Normal Distribution With Mean P And Variance O We Know That I 31 2 52 1 (17.63 KiB) Viewed 151 times

Consider n = 40 observations 11,..., In from a Normal distribution with mean p and variance o?. We know that i = 31.2 52 = 3.24. (a) Let u be unknown and o2 = 1.96. Provide a 99% Bayesian credible interval when a N (20, 1) prior is assumed for the parameters. (b) Let the precision o = o-' be unknown and p = 30. Compute the posterior mean of the parameter o when a Gamma(5, 3) prior is assumed for o.