Normally approximated Bayesian credible interval of binomial proportion
Lionel Sahabo, Seongbaek Yi · Journal of the Korean Data and Information Science Society · 2019
The success probability in a binomial distribution has been of much interest in many fields. Most articles about its interval estimation have given focus on traditional approaches, while there were seldom on Bayesian approaches. In this article we give focus on the interval estimation based on normal approximation to posterior distribution, and compare its performance with major interval estimations in terms of coverage probability related measures. The approximate Bayesian credible interval, based on similar ideas to that of the Wald or Wilson interval, is easily derived and simple to memorize and shows comparable results to popular classical interval methods.