Stratified random sampling is a method of sampling that divides a population into smaller groups that form the basis of test samples.

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 ...

Central Limit Theorem: A sampling distribution of the mean is approximately normally distributed if the sample size is sufficiently large. This is true no matter what the population distribution is.

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 ...