What is the probability that the drug will be successful

Reference no: EM13970153

Previous experience with a drug suggests that the probability p that the drug is effective is a random quantity having a beta density with parameters α = 2 and β = 3. The drug is used on ten subjects and found to be successful in four out of the ten patients. What density should we now assign to the probability p? What is the probability that the drug will be successful the next time it is used?

Reference no: EM13970153

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