Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

The government and qui tam plaintiffs are increasingly employing statistical sampling in False Claims Act cases, particularly in cases where addressing and analyzing large numbers of allegedly false ...

In a simple random sample, each individual in the population has an equal probability of being chosen. Additionally, each sample of size n has an equal probability of being the chosen sample. This ...

When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Systematic sampling is straightforward and low risk, offering better control. However, it may introduce sampling errors and ...

Originating in the 1920s as a sampling scheme for agricultural regulatory inspectors, the square root (Sqrt) of the lot size (N) + 1 was semiformalized in an unpublished report by the Association of ...