Consider a population of 70 individuals, for which you wish to estimate the mean annual income, μ. Assume that you have decided to use the following estimation procedure to make your estimate: simple ...
Mark Blumenthal and Natalie Jackson of Huffpost Pollster write: If you read polls in the news, you’re probably familiar with the term “margin of error.” What ...
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Random Sampling: Key to Reducing Bias and Increasing Accuracy
Random sampling is a random means of gathering data points from all groups. It eliminates bias within your data sets by using ...
Journal of the Royal Statistical Society. Series C (Applied Statistics), Vol. 36, No. 2 (1987), pp. 145-152 (8 pages) Ranked set sampling is a technique for estimating the mean of a population, of use ...
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 ...
An important application of theoretical ecology is in estimation of species extinction risk. Extinction models guide the selection of management regimes for endangered species. Two vital parameters in ...
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