The purpose of this article is to discuss potential uses of statistical sampling in a financial institution environment. Banks and other financial firms are faced with a number of managerial challenges where the use of sampling can provide information at a reasonable cost. Given today’s competitive environment and the move toward consolidation in the banking industry, it is imperative for financial managers to be able to value assets of target institutions quickly and efficiently. Similarly, as customers are faced with an ever increasing array of financial-service providers, the quality of service provided to customers becomes increasingly important for maintaining market share.
– Cowan, Charles D.