Question: What is sampling error and why is it not present in a survey of a population? Stratified random sampling reflects Paretos 80:20 Principle. Discuss how

What is sampling error and why is it not present in a survey of a population? Stratified random sampling reflects Paretos 80:20 Principle. Discuss how stratified random sampling can make audit sampling (e.g. for accounts receivable (A/R), inventory, or payroll) more cost-effective. What is the main statistical downside of stratified random sampling?

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