(Solution) An engineer is studying the reliability of a product by performing a sequence of n trials. Reliability is defined as the probability of success. > Snapessays.com


(Solution) An engineer is studying the reliability of a product by performing a sequence of n trials. Reliability is defined as the probability of success.


An engineer is studying the reliability of a product by performing a sequence of n trials. Reliability is defined as the probability of success. In each trial,the product succeeds with probability p and fails with probability 1 ? p. The trials are conditionally independent given p. Here p is unknown (else the study would be unnecessary!). The engineer takes a Bayesian approach, with p ? Unif(0, 1) as prior. Let r be a desired reliability level and c be the corresponding confidence level, in the sense that, given the data, the probability is c that the true reliability p is at least r. For example, if r = 0.9, c = 0.95, we can be 95% sure, given the data, that the product is at least 90% reliable. Suppose that it is observed that the product succeeds all n times. Find a simple equation for c as a function of r.I think this may be related to the beta or gamma distribution somehow but don't really know how to approach. 

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 21, 2023

Solution~00021147637966.zip (25.37 KB)


This attachment is locked

Our expert Writers have done this assignment before, you can reorder for a fresh, original and plagiarism-free copy and it will be redone much faster (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 21, 2023

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • ■ As a reference for in-depth understanding of the subject.
  • ■ As a source of ideas / reasoning for your own research (if properly referenced)
  • ■ For editing and paraphrasing.

This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

Get Free Price Quote