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 ...

Melissa Horton is a financial literacy professional. She has 10+ years of experience in the financial services and planning industry. Robert Kelly is managing director of XTS Energy LLC, and has more ...

Four sampling methods are presented. SRS (Simple Random Sampling), Stratified Sampling, Cluster Sampling, Systematic Sampling. Here default setting is WITHOUT replacement sampling. Sample Size ...

Markov Chain Monte-Carlo (MCMC) is an increasingly popular method for obtaining information about distributions, especially for estimating posterior distributions in Bayesian inference. This article ...

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 ...

Random sampling is a random means of gathering data points from all groups. It eliminates bias within your data sets by using ...