Homework
Prepare a 3 to 5 pages report (excluding the cover page, the reference page, and any tables and graphs), which compares and contrasts various sampling processes or models. You may use hypothetical or computer generated data for this exercise. Based on problem 5 and 6 on pages of Albright and Winston, use your computer generated data to discuss the advantages and disadvantages of Monte Carlo sampling and Bootstrap sampling. Why are they better than the basic simple random sampling? Could you provide one real world case where Monte Carlo sampling should be used and one case where Bootstrap sampling is more appropriate?
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.