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 ...

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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Representative sampling and random sampling ...