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 ...

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 ...

Edward Lazear could strengthen his discussion about the inaccuracies of the Bureau of Labor Statistic's employment data by simply stating the sampling errors involved in the collection of these data: ...

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 ...