The efficiency of Monte Carlo simulations is significantly improved when implemented with variance reduction methods. Among these methods, we focus on the popular importance sampling technique based ...

This program opens opportunities in enhancing statistical skills for validation projects, focusing on variance, sample distributions, and process capability, which are crucial for setting acceptance ...

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, ...

here is very good news for CPAs whose clients face the often burdensome administrative costs of claiming allowable expense deductions for meals and entertainment (M&E)—the IRS now will permit the use ...

A procedure is suggested to eliminate dependency on the species-area curve, based on the view that the most important fact of plant distribution is the distribution of quantity of material as ...

In a September 28, 2018 Change Request to Medicare’s Program Integrity Manual (“PIM”), the Centers for Medicare & Medicaid Services (“CMS”) updated its instructions to Medicare contractors regarding ...

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 ...

Yesterday, the U.S. Supreme Court issued a 6-2 decision affirming a $2.9 million judgment against Tyson Foods, Inc. in an employment overtime pay case where statistical sampling was used to establish ...