stock price

[gamma]

Does anybody know how to solve such a problem:

You have a large number of stocks (say 1000). The value (price) of these stocks is random in the short time but grows exponentially (at different rates) in the long run. You observe all the stock prices today. Which digit in the price of all these stocks appears maximum number of times?

 

[pruse]

Intuitively it would seem to be 1.

The title of this thread is really misleading...

 

[koupparis]

Look up Benford's Law, the answer is 1. You can reason this out as well without knowing this law.

 

[gamma]

Look up Benford's Law, the answer is 1. You can reason this out as well without knowing this law.

thank you!