Question

In: Statistics and Probability

If you have observed data from a Poisson distribution with arrival rate x over t time...

If you have observed data from a Poisson distribution with arrival rate x over t time units (e.g., k events in t time units), and your prior distribution for x was gamma distributed, show that the posterior distribution for the arrival rate x is also gamma distributed. (Hint: You will need to evaluate a definite integral in the denominator of the expression for the posterior distribution

Solutions

Expert Solution

Dear student,
I am waiting for your feedback. I have given my 100% to solve your queries. If you are satisfied by my given answer. Can you please like it☺


Related Solutions

Service calls arriving at an electric company follow a Poisson distribution with an average arrival rate...
Service calls arriving at an electric company follow a Poisson distribution with an average arrival rate of 70 per hour. Using the normal approximation to the Poisson, find the probability that the electric company receives at most 58 service calls per hour. Round your answer to four decimal places, if necessary.
You have observed the following returns over time: Assume the risk-free rate is 3.55% and the...
You have observed the following returns over time: Assume the risk-free rate is 3.55% and the market risk premium is 4.60%. Year Stock A Stock B Market INPUT DATA rRF 3.55% Market Risk Premium 4.60% 1997 14.000% 15.000% 13.143% a. What are the betas of Stocks A and B? 1998 11.000% 9.000% 11.029% bA bB 1999 -2.500% 5.000% 4.109% 2000 14.000% 7.500% 5.097% b. What are the required rates of return for Stocks A and B? 2001 20.000% 13.500% 19.926%...
A queuing system with a Poisson arrival rate and exponential service time has a single queue,...
A queuing system with a Poisson arrival rate and exponential service time has a single queue, two servers, an average arrival rate of 60 customers per hour, and an average service time of 1.5 minutes per customer. Answer the following questions. Show ALL formulas and calculations used in your response. The manager is thinking of implementing additional queues to avoid an overloaded system. What is the minimum number of additional queues required? Explain. How many additional servers are required to...
A queuing system with a Poisson arrival rate and exponential service time has a single queue,...
A queuing system with a Poisson arrival rate and exponential service time has a single queue, two servers, an average arrival rate of 60 customers per hour, and an average service time of 1.5 minutes per customer. The manager is thinking of implementing additional queues to avoid an overloaded system. What is the minimum number of additional queues required? Explain. How many additional servers are required to ensure the utilization is less than or equal to 50%? Explain. If the...
You have observed the following returns over time:    Year Stock X Stock Y Market 2015...
You have observed the following returns over time:    Year Stock X Stock Y Market 2015 15% 14% 13% 2016 18 5 9 2017 -16 -3 -11 2018 2 2 2 2019 20 12 17 Assume that the risk-free rate is 6% and the market risk premium is 4%. a. What are the betas of Stocks X and Y? Stock X: 1.3 Stock Y: b. What are the required rates of return on Stocks X and Y? Stock X:  11.2 %...
You have observed the following returns over time: Year Stock X Stock Y Market 2011 15...
You have observed the following returns over time: Year Stock X Stock Y Market 2011 15 % 14 % 12 % 2012 20 7 8 2013 -13 -4 -12 2014 3 1 1 2015 21 11 14 Assume that the risk-free rate is 4% and the market risk premium is 6%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. What is the beta...
3. You receive emails by a Poisson Arrival Process at a rate of 12 emails per...
3. You receive emails by a Poisson Arrival Process at a rate of 12 emails per hour. (a) (6 points) Find the probability that you receive exactly 3 emails between 4:10 PM and 4:20 PM. (b) (6 points) You start checking your email at 10:00 AM. What is the expected time of your first email? (c) (9 points) Given that you receive exactly 10 emails between 4:00 PM and 5:00 PM, what is the (conditional) distribution of the number of...
): Let X be the arrival time of a plane in minutes after the scheduled arrival...
): Let X be the arrival time of a plane in minutes after the scheduled arrival time at the Detroit Metro terminal. Assume that X has an exponential distribution with mean equal 10 minutes. Determine: (a) The probability that the plane arrives no later than 15 minutes late. (b) The probability that the plane arrives between 10 and 15 minutes late. (c) Assuming that the arrival times of the flight on different days is independent, determine the probability that the...
Assume you have the following jobs to execute with one processor: i t(pi) Arrival Time 0...
Assume you have the following jobs to execute with one processor: i t(pi) Arrival Time 0 75 0 1 40 10 2 25 10 3 20 80 4 45 85 Using the table, assume the context switch time is five time units with RR scheduling. Create a Gantt chart illustrating the execution of these processes. What is the turnaround time for process p3? What is the average wait time for the processes?
Let X have a Poisson distribution with mean μ . Find E(X(X-1)) and use it to...
Let X have a Poisson distribution with mean μ . Find E(X(X-1)) and use it to prove that μ = σ 2 .
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT