Which of the following pairs of selection methods could appropriately be used in statistical sampling applications?a. Unrestricted random selection, block selection.b. Block selection, haphazard selection.c. Systematic random selection, haphazard selection.d. Unrestricted random selection, systematic random selection.

Q: What are the characteristics of Statistical Sampling?

A: Sampling: Sampling refers to testing some part of the entire population, based on some key features…

Q: Define variables sampling and understandwhen it is used in the audit.

A: Variable sampling is a sampling process used by auditors to enumerate the value of a specific…

Q: What are the characteristics of Non-Statistical Sampling?

A: Non statistical sampling is a sampling method which is not based on the principles of statistics.…

Q: In an MUS application, how is the population size defined? What is the relationship between…

A: MUS stands for Monetary Unit Sampling. It defines the sampling unit as an individual dollar in an…

Q: Create a sample problem of an External Rate of Return.

A: External rate of return(ERR) It is the the rate of return  on a venture where any "excess” cash  is…

Q: State the relationship between the following:a. ARO and sample sizeb. Population size and sample…

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Q: A limitation of systematic random selection is that this methoda. Has a relatively low likelihood of…

A:

Q: Monetary Unit and Classical Variables Sampling. Indicate whether each of the following…

A: Definition:

Q: tement (M)?   a. M is based on the sample results.   b.   the larger M is, the lower the…

A: Tolerable Error Rate (TER) is the maximum acceptable rate of error sample results. TER = EPER + An…

Q: The likelihood that an identified precision interval contains the true (but unknown) population…

A:

Q: What is Attribute Sampling?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: In which step of a sampling plan is nonstatistical sampling different from statistical sampling?a.…

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Q: What factors are considered in determining the sample size in a nonstatistical samplingapplication?

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Q: In stratified random sampling, the population is first divided up into mutually exclusive and…

A: True, In stratified random sampling, the population is first divided up into mutually exclusive and…

Q: As the desire decreases for a given materiality amount, the sample size necessary to test an…

A: Auditing and Assurance

Q: How does Block Sampling compare to other sampling methods?

A: Block sampling is a sampling technique in auditing. Under this method, a series of items is selected…

Q: What is statistical sampling? How does it differ from nonstatistical sampling?

A: Statistical sampling is widely used statistical method of measurement by taking some samples from…

Q: How does Probability Proportionate to Size (PPS) sampling compare to Classic Variables sampling?

A: Probability Proportionate to Size ( PPS):  This is a form of variable sampling. It does not use…

Q: The sample size of a test of controls varies inversely with:…

A: Audit sampling is a process of applying audit procedures for less than 100% of the various items of…

Q: What is Systematic Sampling?

A: Systematic sampling is process to select the products in random way but in a periodically manner.

Q: Explain the following audit sample selection 1. Random selection 2. Systematic selection  3.…

A: Audit sampling: It is referred to the application of audit procedures to less than a hundred percent…

Q: What is Audit Sampling?

A: Audit sampling is the use of an audit procedure which says that selection of some sample items from…

Q: What is the relationship between sample size and (a) sampling risk, (b) tolerable rate of…

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Q: The standard deviation of.alt=”f$ar{X},f$ “> is usually called the A.standard error of the sample…

A: B.randomized standard error

Q: Which one of the following is the main problem with using non-probability sampling technique? a. The…

A: Sampling is the process of choosing selections from a population.

Q: What is sequential sampling? What are its advantages and disadvantages?

A: In this type of sampling, sequence of sample is taken from a group.In this method of sampling,…

Q: Probability samples versus nonprobability samples; also briefly define the types of valid…

A: Solution- Probability sampling- 1- probability sampling, respondents are randomly selected to take…

Q: The interpretation of the ULRD in an attributes sampling application isa. The estimated rate of…

A: The interpretation of the ULRD in an attributes sampling application is the estimated rate of…

Q: A type of sampling application in which a relatively small initial sample is examined anddecisions…

A: Attributes sampling: Attributes sampling helps the auditor to assess a specific rate of occurrence…

Q: Sample Size Determination. Review each of the following independent sets of conditions.Required:Use…

A: Sample Size: The sample size is the portion of the total population that represents the total…

Q: The upper precision limit (CUER) in statistical sampling is(1) the percentage of items in a sample…

A: The sampling in which observations are studied and tested by some statistical tools is said to be…

Q: Which of the following best describes the method of determining the ULRD?a. Expected population…

A: Upper Limit Rate of Deviation (ULRD): It is a statistical measure used by the audit team to adjust…

Q: Define monetary unit sampling and explain its importance inauditing. How does it combine the…

A:

Q: The F-test is sensitive to the assumption that the underlying samples are normally distributed.…

A: The F-Test is a common statistical test which is often utilized in comparing  statistical models…

Q: What is Sequential Sampling?

A: Sequential sampling: It is the sampling plan at which the initial sample is selected and the audit…

Q: Which of the following would be designed to estimate a numerical measurement of a population, such…

A: Monetary value is the value which will be received by a seller when the seller sells goods or…

Q: What is Discovery Sampling?

A: Discovery sampling can be used by the audit team as follows: Go to the AICPA sampling tables…

Q: Describe allowance for sampling risk (or precision)?

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Q: What alternative courses of action are appropriate when a population is rejected using…

A: Test of Details of Balances: The test of details of balances is expected to show that the trial of…

Q: When selecting a variables sampling approach, when should the audit team use MUS and when should it…

A: Old style factors examining permits you to choose and dissect a little subset of the records in a…