This preview shows page 1. Sign up to view the full content.
Unformatted text preview: 3. Suppose that a datagenerating process is a normal process with unknown mean : and with known variance 225. A sample of size 9 is taken from this process with the sample results: 42, 56, 68, 56, 48, 36, 45, 71, 64. Suppose your prior judgements about : can be represented by a normal distribution with mean 50 and variance 14. (a) What is your posterior distribution for : ? (b) Using your posterior distribution, find P( : > 50 * y). 4. In reporting the results of a statistical investigation, a Bayesian researcher reports that the posterior distribution for : is N(52, 10), and that a sample of size 4 with sample mean 56 was drawn from a N( : , 100) population. What were the researchers prior beliefs?...
View Full
Document
 Fall '08
 staff
 Econometrics

Click to edit the document details