Question: Why is random sampling important for statistical sampling? Name three types of random sampling used in an audit and explain how they differ.

Why is ‘random’ sampling important for statistical sampling? Name three types of random sampling used in an audit and explain how they differ.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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 External Auditing Questions!

Q:

answer the question clearly You are building a flight-control system for which a convincing safety case must be made. Would you assign the tasks of safety requirements engineering, test case...

Q:

ANOVA (Chapter 13) 1. The Federal Aviation Administration (FAA) would like to determine if the average number of minutes that a plane departs late differs between airports in Philadelphia, Orlando,...

Q:

Probability sampling is seen as less representative for the population than probability sampling A. True B. False With systematic sampling one divides the population into subgroups and chooses the...

Q:

1. Auditors will never use their own judgments in selecting items for testing (True/False). 2. Name the two types of audit sampling. 3. List the three types of statistical sampling. 4. Name three...

Q:

Probability sampling is seen as less representative for the population than probability sampling A. True B. False With systematic sampling one divides the population into subgroups and chooses the...

Q:

Top of Form 1. Some variables that were recorded while studying diets of sharks are given below. Which of the variables is categorical? The length of the shark being observed The type of shark being...

Q:

Respond to Discussion question Random sampling is a statistical technique used to obtain a representative sample from a larger population. It involves randomly selecting individuals or units from the...

Q:

SECTION B (Answer any TWO questions from this section) Question 3 (10 marks) (a) Explain the meaning and purpose of measurement. [3 marks] (b) Figure | consists of three variables. For each variable,...

Q:

Option Concept Task 1. R esearchers found that people who used candy cigarettes as children were more likely to become smokers as adults, compared to people who did not use candy cigarettes as...

Q:

Procedure/Learning Experience Activity The key to understand random sampling is to understand first the different types of it and know the reason why those kinds of sampling become random. Match the...

Q:

One of the single best sources of information about financial institutions is the U.S. Flow of Funds report, produced by the Federal Reserve. This document contains data on most financial...

Q:

In the university ?male section- the number of the students is not very much- the university want to do some activities for them .so there is plan to open clubs for them . In the plan each club...

Q:

AAnn eellddeerrly customer has a discretionary account with your firm. The power of attorney signed by the customer for the account is non - durable. If the customer becomes mentally incapacitated,...

Q:

Most amusement parks in the United States charge a fixed price for admission, which includes unlimited roller coaster rides for the day. Some people attempt to ride the roller coasters as often as...