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 ...

Putting a list into random order might seem like an unusual task, but it can be quite useful for many businesses. For example, you might want to randomly assign leads to salespeople, assign jobs to ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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 ...