Lecture K1: Variance Reduction Techniques, Part 1 (2019-11-19) – CRN and Control Variates

This lecture introduces the use of Variance Reduction Techniques (VRT), which combine tools from statistical experiment design with the idiosyncrasies of stochastic simulation studies to reduce the number of replications needed to make inferences by controlling sources of variance. This lecture primarily focuses on Common Random Numbers (CRN) and Control Variates.