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Compute a highest-posterior-density credible set

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Reference no: EM131710331

Question: Money surveyed mutual funds as a good investment instrument. Suppose that the annual average percentage return from mutual funds is a normally distributed random variable with mean 8.7% and standard deviation 5%, and suppose that a random sample of 50 such funds gave a mean return of 10.1% and standard deviation of 4.8%. Compute a 95% highest-posterior-density credible set for the average annual mutual fund return.

Reference no: EM131710331

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