You are given:(i)The probability that an insured will have exactly one claim is 0.(ii)The prior distribution of 0 has probability density function:37(0) =e, 0<0<12A randomly chosen insured is observed to have exactly one claim.Determine the posterior probability that 0 is greater than 0.60.(A)0.54(В)0.58(C)0.63(D)0.67(E)0.72

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Answered: You are given: i) The probability that…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Suppose that we have an independent and identically distributed sample from some distribution family G defined by an unknown parameter value 0. The frequentist approach to statistics would treat e as a fixed value (constant), but the Bayesian approach to statistics would treat 0 as a random variable with some prior distribution specified by a probability density function 1(0). True O False
@ . For a certain instant lottery game, the odds in favor of a win are given as 39 to 61. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive. The probability is (Round to two decimal places as needed.) F2 W S X nd w # 3 8.0 F3 E D C DSA 4 Q F4 R F % 5 V F5 T G 6 MacBook Air B F6 Y H & 7 F7 U N ** 00 8 J DII FB - M ( 9 K DD O V- O дв F10 Time Remaining: 01:12:21 P I' V command : I + " com { [ 11 option F12 1 ? 1 Nex }
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The daily demand, D, of sodas in the break room is:D 0 1 2 3P(D=d) 0.1 0.2 0.4 0.3i) Find the probability that the demand is at most 2.ii) Compute the average demand of sodas.iii) Compute SD of daily demand of sodas.
i need the answer for question d. tq
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Given the probability distributions for variables X and Y shown to the right, compute the terms below a. E(X) and E(Y) b. ox and dy C. OXY d. E(X+Y) P(X,Y) 0.4 0.6 X 100 300 Y 300 100 0
Let theta be the unknown market share that a company has for its primary product. Uncertainty in theta is represented by a probability density function of the beta distributional form with a = 54 and b = 46. You have developed the posterior distribution for theta after observing that 64 out of a random sample of 90 customers used the product. Which statement is correct? O A. In the sample, the proportion of people who used the product is greater than the expected proportion based on the prior, but this discrepancy has not affected the mean of the posterior distribution. B. In the sample, the proportion of people who used the product is less than the expected proportion based on the prior, and has led to the posterior distribution having a mean smaller than the prior mean but greater then the sample mean. O C. In the sample, the proportion of people who used the product is greater than the expected proportion based on the prior, and has led to the posterior distribution having a mean…
Suppose that the distribution function of X is given by: (0, b<0 b Osb<1 1 b F(b) =- D=1, Isb<2 2 11 2sb<3 12 b23 1. Determine its corresponding probability mass function. 3 2. Find

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