Mathematics, 31.12.2019 09:31 yqui8767

The time between failures of a machine has an exponential distribution with parameter l. suppose that the prior distribution for λ is exponential with mean 100 hrs. two machines are observed, and the average time between failures is 1125 hrs. a) find the bayes estimate for λ. b) what proportion of the machines do you think will fail before 1000 hrs?

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