Normal-inverse-gamma distribution - Wikipedia Republished // WIKI 2
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Claim severity is distributed as ℰ(1 / θ). The prior distribution of Θis inverse gamma with pdf fΘ(θ)=(c^2)/(θ^3) (-(c)/(θ)), 0<θ<∞, 0<c . Given an observed loss is x, calculate the mean of the posterior distribution of Θ. | Numerade
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