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 researcherâ€™s prior beliefs?...
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 Fall '08
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 Econometrics

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