Suppose that the time in minutes required to serve a, Ask an Expert

Statistics

Suppose that the time in minutes required to serve a customer at a certain facility has an exponential distribution for which the value of the parameter (J is unknown that the prior distribution of 8 is a gamma distribution for which the mean is 0.2 and the standard deviation is 1; and that the average time required to serve a random sample of 20 customers is observed to be 3.8 minutes. If the squared error loss function is used, what is the Bayes estimate of O?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92660947

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

1 prince georges county publicnbspschools wants to access

1) Prince George's County Public Schools wants to access the effectiveness of its new 1st grade reading program. Ten 1st grade classrooms are randomly selected from across the county. What kind of sampling method is bein ...

A binomial process has 892 trails and a probability of

A binomial process has 892 trails and a probability of success of 0.78. What is the standard deviation of this process distribution?

A company is trying to beat the competition to market with

A company is trying to beat the competition to market with a product. They have determined that if they get to market prior to November 1 they will have a revenue stream of $800,000. If they get to market between Novembe ...

Butterfly tractors had 1850 million in sales last year cost

Butterfly Tractors had $18.50 million in sales last year. Cost of goods sold was $8.90 million, depreciation expense was $2.90 million, interest payment on outstanding debt was $1.90 million, and the firm's tax rate was ...

Kirk inc has come out with a new and improved product and

Kirk Inc. has come out with a new and improved product, and is expected to have an ROE of 14.4%. It will maintain a plowback ratio of 30%. Investors expect a 6.3% rate of return on the stock. (a) At what P/E ratio would ...

Answer as thourough as possibleconsider an airline whose

Answer as thourough as possible. Consider an airline whose bottom line is sensitive to volatile jet fuel prices. To reduce the volatility, management decides to use derivatives to hedge the cost of jet fuel. The risk man ...

A sample of 175 randomly selected students found that the

A sample of 175 randomly selected students, found that the proportion of students planning to travel home for thanksgiving is 0.64 What is the standard deviation of the sampling distribution.

Question the probability a beginning golfer makes a good

Question: The probability a beginning golfer makes a good shot if he selects the correct club is 1/3. The probability the shot is good with the wrong club is 1/5. In his bag are four different clubs, only one of which is ...

1 the r-squared of a linear regression model is equal to

1) The R-squared of a linear regression model is equal to the proportion of the variance of the target explained by a linear regression model. 2). The R-squared of a linear regression model is equal to the proportion of ...

What p-value was found when determining whether there is a

What P-value was found when determining whether there is a difference in the IQ of girls and boys in problem 6? Should you reject the null hypothesis? 1. P-Value = 0.465. Yes, you should reject the null hypothesis which ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert