Polya's Urn process

76 Views Asked by At

I am aware of the mathematical definitions and its general results of the polyps urn process. For example if you draw a green ball, you add (replacement) the same colored ball back in to the urn (in this case green). I let this process continue indefinitely. Now, I am generally confused to how I can apply this in a real life setting. Like the mathematical abstractions of the model makes sense, but could anyone give me any real life practical setting which is not too technical where it may imply this process?