Question: The critical difference between statistical and nonstatistical sampling is: a. The required use of judgment in nonstatistical sampling. b. The elimination of nonsampling risk with

The critical difference between statistical and nonstatistical sampling is:

a. The required use of judgment in nonstatistical sampling.

b. The elimination of nonsampling risk with statistical sampling.

c. The use of the laws of probability in statistical sampling to determine sample size and develop a confidence interval around the results of the sample.

d. That more representative samples are attained with statistical sampling.

Step by Step Solution

★★★★★

3.54 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

c The use of the laws of proba... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Principles of Auditing Questions!

What is the fundamental difference between statistical and non-statistical sampling?

Explain the major difference between statistical and nonstatistical sampling. What are the three main parts of statistical and nonstatistical methods?

What are the three main phases of audit sampling? Are these phases the same for statistical and nonstatistical sampling methods?

Need help on these 2 questions, thank you. Question 5 View Policies Current Attempt in Progress The critical difference between statistical and nonstatistical sampling is: O the required use of...

The critical difference between statistical and non-statistical sampling is the: A. Added precision attained with statistical sampling. B. Sampling risk can be quantified in statistical sampling. C....

The difference between statistical and non-statistical sampling is that: (a) Non-statistical sampling leads to non-sampling risk and statistical sampling does not. (b) Non-statistical sampling is...

PLEASE select one: 1.If the preparers of the financial report believe that the application of an accounting standard may mislead the users of those statements, and the auditor concurs with this view:...

Auditing Student 1: Senior auditor The senior auditor will meet with their manager to discuss the sampling techniques used on the current audit. It is important to understand and be able to clearly...

Stephanie is auditing a major consumer products manufacturer. She is building her audit plan and trying to determine her approach to auditing their ending inventory balance as well as the long-term...

I wanted to know if anyone can help with this writing assignment for auditing class MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question (2 points...

Use MINITAB or some other software to obtain the scatter diagram, correlation coefficient, and the regression line of the final time to run 1.5 miles on the initial times given in Table D.5 of the...

Use a paired t test to analyze the hypnosis/ESP data given in Question 13.2.1. Let = 0.05.

The apple market is in equilibrium. Suppose we observe that apple growers are using more pesticides to increase apple production. At the same time, we hear that the price of pears, a substitute for...

Think of two situations in which you have been a customer: one in which you were satisfied with the merchandise you received and one in which you were not. Make a list of the reasons you were...

a. Explain your responsibilities with respect to the Shady Oaks cafeteria fire. b. How will this event be handled in the HCHG financial statements and the audit report? Fellowes and Associates...

a. Are there any going concern issues for HCHG? Explain. If so, what are the mitigating circumstances? b. How will you recommend that the issues be handled in the financial statements and the audit...

For each of the following situations, indicate what type of modification/audit report is most appropriate. a. There is a scope limitation and it is material. However, the overall financial statements...

The OASDI program pays disability benefits to a disabled worker and eligible family members. Explain whether each of the following persons would be eligible for disability-income benefits. In each...

I need the solution please You just started your first job. You want to start saving so that you can be ready for marriage in four years. To determine how much you should save, you calculate the...

Phoenix Industries has pulled off a miraculous recovery. Four years ago it was near bankruptcy. Today, it announced a $2 per share dividend to be paid a year from now, the first dividend since the...