Automobiles are classified as economy size (small), midsize (medium), or full size (large). Decide subjectively what proportion of each type of car occurs in your area. Let  denote the highest...


Automobiles are classified as economy size (small), midsize (medium), or full size (large). Decide subjectively what proportion of each type of car occurs in your area.


Let
 denote the highest temperature that will occur outdoors tomorrow, near your place of residence. Using the histogram approach, find your subjective prior density for
.


3. Using the relative likelihood approach, determine your prior density for
 in the situation of Exercise 2.




May 04, 2022
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