g on the prior mean is
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2AGP
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![You have now developed a posterior distribution for theta and also worked out the largest the prior variance can be in order for the mine to be
profitable. Assume that the prior variance is equal to this value. The posterior mean can be thought of as a weighted sum of the prior mean and
the sample mean. In this case the weighting on the prior mean is
. Enter the weight to two decimals i.e. a weight of
45% is entered as 0.45.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d141f01-63fa-49e9-908e-372c72dbc4f5%2Fdeec5473-d885-4d54-9894-236c17f86602%2F89oak1gj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You have now developed a posterior distribution for theta and also worked out the largest the prior variance can be in order for the mine to be
profitable. Assume that the prior variance is equal to this value. The posterior mean can be thought of as a weighted sum of the prior mean and
the sample mean. In this case the weighting on the prior mean is
. Enter the weight to two decimals i.e. a weight of
45% is entered as 0.45.
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