Find the posterior distribution of left-handed students

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Reference no: EM132249257

Assignment -

Problems must be solved using R software. Solutions must be submitted in a Word document created by an RMarkdown file.

1. In a group of students, there are 2 out of 18 that are left-handed.

a. Assuming a low-informative prior probability distribution, find the posterior distribution of left-handed students in the population. Summarize your results with an estimation of the mean, median, mode, and a 95% credible interval. Plot your posterior probability distribution.

b. According to the literature, 5 to 20% of people are left-handed. Take this information into account in your prior probability and calculate a new posterior probability distribution. Summarize your results with an estimation of the mean, median, mode, and a 95% credible interval. Plot your posterior probability distribution.

2. You're an analyst in an investment bank. A client is thinking of investing in start-up professional services firm in Lincoln County. Your boss wants you to analyze the service sector based on the Lincoln County data below.

Firms Created and Dissolved by Sector
Year	Action	Agriculture	Manufacturing	Transport	Service
2012	Dissolved	4	17	12	52
2012	Created	13	24	20	78
2013	Dissolved	2	14	12	45
2013	Created	8	36	16	102
2014	Dissolved	7	24	24	61
2014	Created	3	20	20	77
2015	Dissolved	2	20	21	66
2015	Created	4	26	24	82
2016	Dissolved	2	27	19	50
2016	Created	5	30	19	89

Is there evidence for net service firm growth during the study period? Present your results both qualitatively (i.e., with graphics) and quantitively. Your boss is a Bayesian. Thus, he's interested in descriptions on entire distributions: mean, median, and 95% credible interval.

Reference no: EM132249257

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