7. The number of annual claims for malicious damage to a local school are modeled by a Poisson distribution with parameter A, where A is initially assumed to be one of the values (1,2,3,4,5) with prior distribution fA(A) (0.3, 0.3, 0.2, 0.1, 0.1). Over a three-year period, the annual claims experience was (3,2,7). Update the distribution for A (find the posterior) and find the Bayesian estimates of A when using the quadratic, absolute value and zero-one loss functions. =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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7. The number of annual claims for malicious damage to a local school are
modeled by a Poisson distribution with parameter A, where A is initially
assumed to be one of the values (1,2,3,4,5) with prior distribution
fA(A) (0.3, 0.3, 0.2, 0.1, 0.1). Over a three-year period, the annual
claims experience was (3,2,7). Update the distribution for A (find the
posterior) and find the Bayesian estimates of A when using the quadratic,
absolute value and zero-one loss functions.
=
Transcribed Image Text:7. The number of annual claims for malicious damage to a local school are modeled by a Poisson distribution with parameter A, where A is initially assumed to be one of the values (1,2,3,4,5) with prior distribution fA(A) (0.3, 0.3, 0.2, 0.1, 0.1). Over a three-year period, the annual claims experience was (3,2,7). Update the distribution for A (find the posterior) and find the Bayesian estimates of A when using the quadratic, absolute value and zero-one loss functions. =
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