The German Tank Problem
<p>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<strong> total size</strong> of the population, as I want to show you in this article.</p>
<p>I will use the example of drawing lottery tickets to estimate how many tickets there are in total, and hence calculate the likelihood of winning. More formally, this means to estimate the population size given a discrete uniform distribution. We will see different estimates and discuss their differences and weaknesses. In addition, I will point you to some other use cases this approach can be used in.</p>
<p><a href="https://towardsdatascience.com/the-german-tank-problem-3455237aaf43"><strong>Read More</strong></a></p>