A comparison of mean and mode for bayesian problem
Date
2014-12
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Abstract
Simulation is wildly used in many academic research areas. This thesis will set up a model to find out the true price in a new market from an urn problem. Black and white balls are drawn from the urn with replacement. From the simulations made by MATLAB, we conclude that the mode gets closed to the mean.
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Keywords
Simulation, Comparison, Mean, Mode