Question 15
A factory manufactures light bulbs, and each bulb has a probability of being defective. To estimate this probability using Bayesian methods, assume the prior distribution of to be Beta(3, 3). A quality inspector tests 12 independent bulbs. If 5 bulbs are found to be defective, answer the given subquestions.
Using the posterior distribution, calculate the posterior mean of . Enter the answer correct to two decimal places.