Minutes required to serve a customer

Reference no: EM131832586

Suppose that the time in minutes required to serve a customer at a certain facility has an exponential distribution for which the value of the parameter (J is unknown that the prior distribution of 8 is a gamma distribution for which the mean is 0.2 and the standard deviation is 1; and that the average time required to serve a random sample of 20 customers is observed to be 3.8 minutes. If the squared error loss function is used, what is the Bayes estimate of O?

Reference no: EM131832586

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