Plot the integrands, and use monte carlo integration

Reference no: EM131357885

For the normal-Cauchy Bayes estimator

solve the following questions when x = 0, 2, 4.

a. Plot the integrands, and use Monte Carlo integration based on a Cauchy simulation to calculate the integrals.

b. Monitor the convergence with the standard error of the estimate. Obtain three digits of accuracy with probability .95.

c. Repeat the experiment with a Monte Carlo integration based on a normal simulation and compare both approaches.

Reference no: EM131357885

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