Hello everybody,
I have the following question. Assume I observe N outcomes from a Bernoulli random variable with unknown success parameter p. Based on these outcomes (or samples), how likely is it that the real parameter p is larger (or smaller) than a given value eps (e.g., 1%)?
Any ideas how this can be done?
Thanks a lot,
Hansel
I have the following question. Assume I observe N outcomes from a Bernoulli random variable with unknown success parameter p. Based on these outcomes (or samples), how likely is it that the real parameter p is larger (or smaller) than a given value eps (e.g., 1%)?
Any ideas how this can be done?
Thanks a lot,
Hansel