I have a simple model in
INLA (the regressor is a single
model=iid term), which reports the precision of the hyperparameter. How to convert it to variance?
Question #1: Is my understanding correct that the CI can be simply converted by taking the reciprocal of the endpoints? (As reciprocal is an invertible monotone transformation.)
Question #2: What to do with the point estimator? This is not an MLE, thus no invariance principle applies, so, if my understanding is correct, I can't simple take its reciprocal.