This post discusses different methods for estimating the total number of instances in a pool using statistical estimation techniques. It explores the German Tank Problem, which was used during World War II to estimate the number of tanks using serial numbers. The post explains the formula and simulations used to make these estimates, comparing different approaches. It also provides examples of other use cases where this estimation approach can be applied.
Table of contents
Estimating your chances of winning the lottery with samplingPlaying the lotteryA better approach: Using even spacingLet’s do a simulationWhich is better?Use casesConclusionReferences & LiteratureSort: