Assume prior belief suggests that a car averages 30 mpg with ơ-1 mpg. The last 5...
Assume prior belief suggests that a car averages ,1 30 mpg with ơ-1 mpg. The last 5 fill-ups had the following mpgs: 25, 26, 30, 22, 20 Let the random variable X represent the actual mpg of the car. Using Bayes law address the following: 1. "Solve" for P(observations), leaving the denominator unsolved 2. In excel plot the distribution P(xobservations) for x-15,16,17,... ,38,39, 40 3. Which values of x maximizes P(x observations)? Accordingly, what is the most likely mpg?
Assume prior belief suggests that a car averages 1-30 mpg with ơ-1 mpg. The last 5 fill-ups had the following mpgs: 25, 26, 30, 22, 20. Let the random variable X represent the actual mpg of the car. Using Bayes law address the following: 1. "Solve" for P(xlobservations), leaving the denominator unsolved.