STA310H5 Study Guide - Quiz Guide: Prior Probability
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Assignment 3 solutions: the prior estimate of is 330, the posterior estimate is nx. 2 where and s are statistics from a sample. If n is large and/or if s is small, then posterior estimate is close to usual estimate of a mean. Taking a large sample, almost entirely, removes the effect of the prior. Notice: if and are both small while n is large, then posterior is close to usual estimate; here the effect of the prior is minimal. Since mortality rates range from about 0. 03 to about 0. 20 we can say that 4 0. 20-0. 03 = 0. 17, or . This can be solved (approximately) for = 5 and = 45. The new procedure looks like it may be somewhat better than. 0. 2021: 0. 15, there are two normal distributions here. All students of the same age n(100,225) Student joe (who may take multiple iq tests and get different scores on each) n( , 25)