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### Putting a prior distribution on average GPA

I am trying to see what would be an appropriate prior distribution for $\theta$, the average GPA of all college students who graduate in a particular year Y from university U. Assume also that from ...
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### Conjugate beta / interpretation of the "continuous binomial" signal

Note: this question has significantly evolved, thanks to inspiring comments by Tim. Assume there is some "truth" $x\in[0,1]=Beta(1,1)$ that is signaled with some precision. I assume that the ...
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### Taking into account the uncertainty of p when estimating the mean of a binomial distribution

I have a binomial distribution with parameters $N$ and $p$, and the estimate for the mean of my distribution is N$\times p$. The values of $N$ and $p$ are such that we can use the Gaussian ...
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### Weighted arithmetic mean weight choice in a simplified Bayes estimator

A Bayesian estimator as defined in the Wikipedia article Practical example of Bayes estimators balances the prior knowledge of the entire data set with the knowledge of the subset. This is usually ...
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### Antonym of variance

Is there a word that means the 'inverse of variance'? That is, if $X$ has high variance, then $X$ has low $\dots$? Not interested in a near antonym (like 'agreement' or 'similarity') but specifically ...
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### Determination of sample size for a proportion

SCENARIO The parent company has other business units (think of these as franchises owned by the parent company). In order to quality assure procedures the parent company samples employees’ work at ...