With statistical sampling, counsel can simplify damage analyses, avoid potential issues with incomplete or missing data, and minimize the risk of error. In our prior ...

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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J. Brock is a CFA and CPA with more ...

Randomly selected samples from a larger population prevent bias in statistical procedures while avoiding the hassle of dealing with the entire dataset. If you have a list of entries to pick from in ...

In a unanimous decision, the California Supreme Court on May 29 reversed a class action verdict for a class which was based on a flawed statistical model to determine liability and damages. Duran v. U ...

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, ...