SIMULATION ___________ Allows the Fraud Examiner to Inspect Key Attributes

question 63

Short Answer

SIMULATION ___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.

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Definitions:

Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of data values.

Mean Number

The average value obtained by dividing the sum of all values in a dataset by the number of values.

Significance Level

A threshold in hypothesis testing, typically denoted by alpha, indicating the probability of rejecting the null hypothesis when it is actually true.

Known Variance

In statistics, refers to a situation where the variance of a population is a known quantity, facilitating certain types of inference.