Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Chapter 6, Problem 2P
To determine
Explain why sampling is still used, and how it is useful.
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- A principal advantage of statistical methods of attribute sampling over nonstatistical methods is that they provide a scientific basis for planning the A. risk of overreliance B. tolerable rate C. expected population deviation rate D. Sample sizearrow_forwardAn advantage of statistical sampling over nonstatistical sampling methods is that statistical methodsa. Afford more assurance than a nonstatistical sample of equal size.b. Provide an objective basis for quantitatively evaluating sampling risk.c. Can more easily convert the sample into a dual-purpose test useful for substantive procedures.d. Eliminate the need to use judgment in determining appropriate sample sizesarrow_forwardWhat are the two main variables the researcher should consider collecting data for the purpose of the above analysis and why? Identify the data type(s) for the variablesarrow_forward
- In auditing, can anyone who uses sampling be absolutely sure that the sample is representative of the population from which it is drawn? Please provide references if any.arrow_forwardWhat is Discovery Sampling?arrow_forwardWhich 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.arrow_forward
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