what is the role of classical and modern statistics in our daily life? Explain the merits and demerits of each by giving real-life examples.

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Q 1.what is the role of classical and modern statistics in our daily life? Explain the merits and demerits of each by giving real-life examples.

Q 2.Suppose GR and CR of a class have two tokens; one fair token and one biased token which lands upper face (heads)with probability 0.75 =3/4. The teacher picks one token at random (50 - 50) and tossed it repeatedly until he gets a tail. Given that he observes 3 upper faces before the first tails,

a)find the posterior probability that he picked each token.

b)what are the prior and posterior odds for the fair token?

c)what are the prior and posterior predictive probabilities of the upper face on the next toss?

Here prior predictive means prior to considering the data of the first four flips.

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