Question

2. You have been asked to analyze a production machine. Suppose that you think there is a 90% chance that the proportion of defective parts produced by the machine is between 0.1 and 0.2. You also believe the most likely value of this proportion is 0.15. Fit your prior belief with a Beta distribution (i.e. in terms of the parameters r & n)

Answer 1

ANSWER::

we need alpha and beta such that mode = 0.15

P(0.1 < X< 0.2) = 0.9

Using Solver

Alpha = 21.94 = 22 ,

Beta = 120

NOTE:: I HOPE THIS ANSWER IS HELPFULL TO YOU......**PLEASE SUPPORT ME WITH YOUR RATING......

**PLEASE GIVE ME "LIKE".....ITS VERY IMPORTANT  FOR,ME......PLEASE SUPPORT ME .......THANK YOU