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The German Tank Problem
March 6, 2024, 6:14 a.m. | Dorian Drost
Towards Data Science - Medium towardsdatascience.com
Estimating your chances of winning the lottery with sampling
Statistical estimates can be fascinating, can’t they? By just sampling a few instances from a population, you can infer properties of that population such as the mean value or the variance. Likewise, under the right circumstances, it is possible to estimate the total size of the population, as I want to show you in this article.
I will use the example of drawing lottery tickets to estimate how many tickets there …
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