Fall 2011 Strategic Practice 9: Section 1 (Beta and Gamma Distributions) - Question 1
Let B ~ Beta(a, b). Find the distribution of 1 - B in two ways: (a) using a change of variables and (b) using a story proof. Also explain why the result makes sense in terms of Beta being the conjugate prior for the Binomial.
W ~ Beta(b, a). Consider the bank-post office story.
"Mathematics is the logic of certainty, but
statistics is the logic of uncertainty."
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