Learn how representative samples and random samples differ and why combining them minimizes sampling bias for accurate data.

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

Thompson Sampling is an algorithm that can be used to analyze multi-armed bandit problems. Imagine you're in a casino standing in front of three slot machines. You have 10 free plays. Each machine ...