Q27Comprehension2 Marks7 Aug 2022
Passage
The time (in minutes) required to repair electronic gadgets by an electrician is an exponential random variable with unknown parameter . Consider a sample (in minutes) 10, 11, 25, 1, 4, 5, 8, 35, 14, 15 from his previous repairing time. Based on the above data, answer the given subquestions.
Using a Uniform[0,1] prior, find the posterior mean of the given sample. Enter the answer correct to three decimal places.
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