What is the prior predictive probability of rolling a 5

Assignment Help Macroeconomics
Reference no: EM131138242

Assumes that someone grabs a die at random from a drawer containing two 4-sided dice, one 8-sided die, and one 12-sided die. he rolls the die once and reports that the result is 5.

(a) Make a discrete Bayes table showing the prior, likelihood, and posterior for the type ofdie rolled given the data.

(b) What is the prior predictive probability of rolling a 5?

(c) What are your posterior odds that the die has 12 sides?

(d) Given the data of the first roll, what is your probability that the next roll will be a 7?

Reference no: EM131138242

Questions Cloud

Attributes of project that differ from attributes of tasks : Some people tend to become confused and over-simplify the depth involved with projects. Tasks can be simple or complex. What are some of the attributes of a project that differ from the attributes of tasks?
Challenges for prevention and control of a disease : Discuss the challenges for prevention and control of a particular infectious disease. Some things you may consider as you discuss this topic: Does this disease already have a vaccination, and if so, is the challenge in getting people to get vacci..
Data more closely resemble data from normal distribution : Kittlitz (1999) presents data on homicides in Waco, Texas, for the years 1980-1989 (data taken from the Waco Tribune-Herald, December 29, 1989). There were 29 homicides in 1989. The table gives the dates of the 1989 homicides and the number of days b..
Discuss the challenges for prevention and control of malaria : Discuss the challenges for prevention and control of malaria. Some things you may consider as you discuss this topic: Do you think public health strategies for malaria control should focus more on reducing morbidity
What is the prior predictive probability of rolling a 5 : Make a discrete Bayes table showing the prior, likelihood, and posterior for the type ofdie rolled given the data.- What is the prior predictive probability of rolling a 5?
Discuss the impact of heredity and environment on a person : Explain what genes are, and how behavioral geneticists explain our human differences. Discuss the impact of heredity (nature) and environment (nurture) on a person
Flexibility in recognizing gains from sales of assets : Do companies have some flexibility in recognizing gains from sales of assets ? Give an example of how that could affect growth. How could outsourcing impact growth in cash ? Give an example of how outsourcing affected growth in cash.
Prokaryotic and eukaryotic cellular organisms : Write an essay discussing the similarities and differences between prokaryotic and eukaryotic cellular organisms. Include the cellular characteristics, morphological, and, functional properties
Trace real or hypothetical new product through : Trace a real or hypothetical new product through the steps in the new product development process, including idea generation, concept verification and testing, actual development, and test marketing. Discuss the establishment of “go/kill” points, mea..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Monopolist in equilibrium

1. Consider a monopolist in equilibrium who faces the linear demand curve D1 shown below, and whose marginal cost is constant at c.

  Percentage of completion method

What impact does amt have on the decision to whether to use either the percentage of completion method or completed contract for reporting profit on longterm contracts?

  Determining merger of two rival firms on market power

When McDonald's Corp. reduced the price of its Big Mac by 75 percent if customers also purchased-Using your knowledge of game theory, what do you thank disrupted McDonald's plans?

  Quotas and tariffs-graphing and analysis

Can the U.S. ever come out ahead from this quota?  Why or why not? Can the ROW ever come out ahead? Why or why not?

  An investment alternative will yield an income of

An investment alternative will yield an income of $12,500 now (t=0) and $8,000 three years from now. What is the accumulated amount at the end of 8 years if the interest rate is 9% per year compounded semi-annually?

  Write a mission and a vision statement for british petroleum

Write a mission and a vision statement for British Petroleum (BP). Identify British Petroleum's (BP) key stakeholders and map these stakeholders in terms of the power/interest grid.

  Describe the impact of an increase in government

Describe the impact of an increase in government spending on GDP using both Keynesian and classical points of view.

  What does it mean to buy securities

What does it mean to "buy securities"? What are some affects that buying securities has on the economy?

  Growth rate of output per worker

Refer to the information above. Which of the following represents the steady state growth rate of output per worker in this economy?

  Utility-maximizing choice of bridget

Bridget has a limited income and consumes only wine and cheese; her current consumption choice is four bottles of wine and 10 pounds of cheese.

  Payback period of the project

Calculate the payback period of the project in years and months.

  Discuss the tax implication of each alternative and recommen

Palace Company (an accrual-basis taxpayer) is writing the lease agreements for its new apartment complex, Palace Apartments, which will rent for a minimum of $2,000 per month

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd