(i) Describe briefly a procedure for obtaining a Bayesian point estimator from a statistical experiment. Include in your description definitions of the terms: (a) prior; (b) posterior. (ii) Let X,,...

Extracted text: (i) Describe briefly a procedure for obtaining a Bayesian point estimator from a statistical experiment. Include in your description definitions of the terms: (a) prior; (b) posterior. (ii) Let X,, .... x, be independent identically distributed random variables, each having distribution Gam (k, A). Suppose k is known, and, a priori, a is exponential of parameter u. Suppose a penalty of (a – A)² is incurred on estimating A by a. Calculate the posterior for A and find an optimal Bayes estimator for A.