When Using PPS (Probability Proportionate to Size) Sampling, _______

question 148

Multiple Choice

When using PPS (probability proportionate to size) sampling, _______.

• A)the population consists of the class of transactions or the account balance to be tested
• B)the population consists a particular transaction or the account balance to be tested
• C)the population consists of the class of transactions or multiple account balances to be tested
• D)management should be allowed some latitude in selecting which accounts to be sampled

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Definitions:

Predicted Value

The estimated outcome based on a statistical model or regression analysis.

Least Squares Regression Line

This is a straight line that best fits the data on a scatter plot, minimizing the sum of the squares of the vertical distances of the points from the line.

Sales

The transactions or processes involved in the selling of goods or services to customers, often measured to gauge business performance.

Experience

Relates to the knowledge or skill acquired by a person over time through involvement in or exposure to events, practices, or activities.