Investopedia

Simple Random Sample vs. Stratified Random Sample: What’s the Difference?

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...
Investopedia

Simple Random Sampling: 6 Basic Steps With Examples

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 ...
Simon Fraser University

Random Sampling

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 ...
Kellogg School of Management

The Fundamental Concept

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 ...