Calculate the posterior variance and mean, Basic Statistics

1. Suppose that there is a Beta(2,2) prior distribution on the probability µ that a coin will yield a "head" when spun in a speci?ed manner. The coin is independently spun 10 times, and "heads" appears 3 times.

(a) Calculate the posterior mean

(b) Calculate the posterior variance

(c) Calculate the posterior probability that .45 Ç µ Ç .55.

Posted Date: 3/23/2013 1:29:27 AM | Location : United States







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