rr_values = seq(0, 1, 0.01)
priors = rep(1,length(rr_values))
plot(rr_values, priors, type = "l")
Campaign Resposne Rate
What is the response rate?
- We know we need at least a 15% response rate to justify the project.
- But what could the actual response rate turn out to be?
Prior Beliefs
- Response rate is a number between 0 and 1.
- But what are the chances response rate takes on any one number in that interval?
- Before observing any evidence based on factual data, we might consider any value as equally likely.
- We admit to being totally ignorant.