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For the situation described in Exercise 8.3.5, determine the Bayes rule for estimating ß -1 when…

For the situation described in Exercise 8.3.5, determine the Bayes rule for estimating ß-1 when using expected squared error as our performance measure for estimators

Exercise 8.3.5

Suppose that(x1….. xn ) is a sample from a Gamma(α0ß) distribution, whereFor the situation described in Exercise 8.3.5, determine the Bayes rule for estimating ß -1 when... where K 0 and L0 are known. If we want to estimate ; using expected squared error as our performance measure for estimators, then determine the Bayes rule. Use the weak (or strong) law of large numbers to determine what this estimator converges to as