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, ...

Power analyses and sample size calculations are important parts of many research projects. Often, before data are even collected, it is necessary to calculate and justify the required sample size for ...

Discover how to determine the ideal percentage of a population for a representative sample to ensure accurate data analysis with minimal sampling error.

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in ...

Low statistical power undermines the purpose of scientific research; it reduces the chance of detecting a true effect. Perhaps less intuitively, low power also reduces the likelihood that a ...