3. Priors

#> Loading required package: rvec
#> 
#> Attaching package: 'rvec'
#> The following objects are masked from 'package:stats':
#> 
#>     sd, var
#> The following object is masked from 'package:base':
#> 
#>     rank

Set-up

Priors for Exchangeable Units

Normal N()

Priors for Series

Random Walk RW()

Second-order Random Walk RW2()