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 ...

Simple random sampling is the foundation for almost every method taught in introductory statistics classes. Many students, however, have difficulty understanding the difference between simple random ...

A research team led by Prof. PAN Ding, Associate Professor from the Departments of Physics and Chemistry, and Dr. LI Shuo-Hui, Research Assistant Professor from the Department of Physics at the Hong ...

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, ...

The World Health Organization (WHO) warns that air pollution is of great concern and impacts health in many ways. To better the situation, it’s necessary to focus on air quality. However, when ...