A marketer is interested in how many customers are likely to

A marketer is interested in how many customers are likely to buy aparticular product in a particular store. Let P be the probability that a customer in that store buys the product. Let the distribution of P be uniform on the interval [O, 1] before observing any data. The marketer then observes 25 customers and only six buy the product. If the customers were conditionally independent given P, find the conditional distribution of P given the observed customers.

Solution

Distribution : 25C6 * (P)^6 * (1-P)^19 Answer