Improving Monte Carlo randomized approximation schemes

Consider a central problem in randomized approximation schemes that use a Monte Carlo approach. Given a sequence of independent, identically distributed random variables X1, X2, . . . with mean μ and standard deviation at most cμ, where c is a known constant, and ǫ, δ > 0, create an estimate μ̂ for μ such that P(|μ̂ − μ| > ǫμ) ≤ δ. This technique has been used for building randomized approximation schemes for the volume of a convex body, the permanent of a nonnegative matrix, the number of linear extensions of a poset, the partition function of the Ising model and many other problems. Existing methods use (to the leading order) 19.35(c/ǫ) ln(δ) samples. This is the best possible number up to the constant factor, and it is an open question as to what is the best constant possible. This work gives an easy to apply estimate that only uses 6.96(c/ǫ) ln(δ) samples in the leading order.