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P 4. Claims for a set of 300 policies are binomially distributed with a probability p of a claim for any one particular policy. Before seeing any data, you believe is uniformly distributed between 0 and 1. You observe 50 claims. Calculate the probability of a claim on the next policy. 5. Repeat #4 if, before seeing any data, you believe p is equally likely to be 0.25, 0.5 or 0.75. 6. Repeat #4 if, before seeing any data, you believe the probability distribution for = p is f(p) 2p for 0≤ p ≤1.

P 4. Claims for a set of 300 policies are binomially distributed with a probability p of a claim for any one particular policy. Before seeing any data, you believe is uniformly distributed between 0 and 1. You observe 50 claims. Calculate the probability of a claim on the next policy. 5. Repeat #4 if, before seeing any data, you believe p is equally likely to be 0.25, 0.5 or 0.75. 6. Repeat #4 if, before seeing any data, you believe the probability distribution for = p is f(p) 2p for 0≤ p ≤1.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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P 4. Claims for a set of 300 policies are binomially distributed with a probability p of a claim for any one particular policy. Before seeing any data, you believe is uniformly distributed between 0 and 1. You observe 50 claims. Calculate the probability of a claim on the next policy. 5. Repeat #4 if, before seeing any data, you believe p is equally likely to be 0.25, 0.5 or 0.75. 6. Repeat #4 if, before seeing any data, you believe the probability distribution for = p is f(p) 2p for 0≤ p ≤1.
Transcribed Image Text:P 4. Claims for a set of 300 policies are binomially distributed with a probability p of a claim for any one particular policy. Before seeing any data, you believe is uniformly distributed between 0 and 1. You observe 50 claims. Calculate the probability of a claim on the next policy. 5. Repeat #4 if, before seeing any data, you believe p is equally likely to be 0.25, 0.5 or 0.75. 6. Repeat #4 if, before seeing any data, you believe the probability distribution for = p is f(p) 2p for 0≤ p ≤1.
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