Chapter 15 Audit Sampling for Tests of Transactions Key objectives: 1. Explain the concept of representative sampling. 2. Distinguish between statistical and nonstatistical sampling. 4. Define and describe audit sampling for exception rates. 5. Use nonstatistical sampling in tests of controls and substantive tests of transactions. 6. Define and describe attribute sampling and a sampling distribution. 7. Use attribute sampling in tests of controls and substantive tests of transactions
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Sampling Procedures There are many sampling procedures that have been developed to make sure that a sample really represents the target population. Simple Random Sampling In simple random sampling‚ every individual in the target population has an equal chance of being part of the sample. This requires two steps: 1. Obtain a complete list of the population. 2. Randomly select individuals from that list for the sample. In a study where the unit of analysis is the student‚ the researcher
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Concept and basics of probability sampling methods One of the most important issues in researches is selecting an appropriate sample. Among sampling methods‚ probability sample are of much importance since most statistical tests fit on to this type of sampling method. Representativeness and generalize-ability will be achieved well with probable samples from a population‚ although the matter of low feasibility of a probable sampling method or high cost‚ don’t allow us to use it and shift us to the
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The key is the use of statistically derived random sampling procedures. These ensure that survey results can be defended as statistically representative of the population. Surveys that do not follow these procedures can produce results that lead to misguided market research‚ strategic‚ or policy decisions. Any so-called "survey" in which no attempt is made to randomly select respondents‚ such as call-in readers’ or viewers’ "polls"‚ is likely to produce results that in no way reflect overall public
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Sampling plan Our target population is the youth‚ from ages of 16 to 23. They represent the young adults and teenagers of the area’s population and are the most easily influenced individuals of the society. Our target population are college and high school students or recently graduated high school students. The data collection method used will be a self-administered questionnaire handed to the prospective respondents and collected right after the 10 minutes needed for the individual to complete
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Population and Sampling MTH/231 August 29‚ 2012 Importance of Population and Sampling History from Political Arithmetic to Statistics The history timeline show evidence of statistical data as early as Ancient Greece time but records show statistics in late 16th century‚ when it was introduced by‚ John Graunt‚ William Petty‚ and Pascal and later in 17th century by Gottfried Achenwall. It was an exciting time when success and discoveries raised the confidence of scientists‚ physicist and astronomers
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CHAPTER 13 SUMMARY “Analyzing Strategic Management Cases” The best way for strategic managers and business leaders to do their jobs in a more efficient manner is by reading cases. These cases simulate real world experiences that these leaders will have to inevitably face one day. Case Analysis covers complex strategic management concepts – such as environmental analysis‚ process of decision making‚ and implementing strategic actions—by putting managers in middle of a scenario and challenging them
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Review SCW‚ chapter 13‚ “Description: Portraying People‚ Places‚ and Things.” For this assignment‚ you will attend an approved* community/college cultural event and use the writing skills you will develop in English 101 to describe the event. Chapter 12 in SCW explains the mode of description and the elements found in a lively‚ interesting descriptive essay. This assignment will allow you to attend a campus cultural event‚ practice your writing skills‚ learn something new about your community and
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Please write down four factors which affect sampling error and for each factor‚ write down the effect of sampling error (i.e.‚ if a factor is up‚ then what happens to the sampling error) 8. Please write down four factors to decide sample size and for each factor‚ write down the effect of sample size (i.e.‚ if a factor is up‚ then what happens to the sample size) 9. Please write down when the systematic sampling is better than simple random sampling. 10. Please write down why we do
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Sampling is concerned with the selection of a subset of individuals from within a statistical population to estimate characteristics of the whole population. Acceptance sampling is used to determine if a production lot of material meets the governing specifications. Two advantages of sampling are that the cost is lower and data collection is faster than measuring the entire population. Sampling is the process of selecting units (e.g.‚ people‚ organizations) from a population of interest so that
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