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, ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Gordon Scott has been an active investor and technical analyst or 20+ years. He ...

Simple random sampling is the foundation for almost every method taught in introductory statistics classes. Many students, however, have difficulty understanding the difference between simple random ...

In a September 28, 2018 Change Request to Medicare’s Program Integrity Manual (“PIM”), the Centers for Medicare & Medicaid Services (“CMS”) updated its instructions to Medicare contractors regarding ...

The efficiency of Monte Carlo simulations is significantly improved when implemented with variance reduction methods. Among these methods, we focus on the popular importance sampling technique based ...

In an opinion with significant implications for California employment law class actions, the California Court of Appeal in Duran v. U.S. Bank National Association ruled that a trial court’s use of ...