Suppose that 100 items are sampled from a manufacturing
Chapter , Problem 63(choose chapter or problem)
Suppose that 100 items are sampled from a manufacturing process and 3 are found to be defective. A beta prior is used for the unknown proportion \(\theta\) of defective items. Consider two cases:
(1) a = b = 1, and
(2) a = 0.5 and b = 5.
Plot the two posterior distributions and compare them. Find the two posterior means and compare them. Explain the differences.
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