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Assignment on exponential lifetimes

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Reference no: EM132848093

Exponential Lifetimes. A lifetime X (in years) of a particular device is modeled by an exponential distribution with unknown rate parameter 0. The lifetimes of X1 = 5, X2 = 6, and X3 = 4 are observed. Assume that an expert familiar with this type of devices suggested that 6 has exponential distribution with mean 3.

(a) For the prior suggested by the expert, ?nd the posterior.

(b) What are the mean and variance of the posterior.

Reference no: EM132848093

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