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Exact count of the next orders
A fill rate starts from a uniform prior, and of orders fill. What is the posterior predictive chance that exactly of the next orders fill? Give a fraction.
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Hint
Find the posterior, then multiply the chances along one order of outcomes and count the orders.
Solution
- The posterior is .
- A particular order, fill, fill, miss, has chance .
- Every arrangement has the same chance, and there are of them.
- The answer is .
Answer: