An Auditor Is Determining the Sample Size for an Inventory

question 989

Multiple Choice

An auditor is determining the sample size for an inventory observation using mean-per-unit estimation, which is a variables sampling plan. To calculate the required sample size, the auditor usually determines the:

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Scores

Quantitative values assigned to individuals or objects for the purpose of comparison or measurement.

Variance

A measure of the dispersion of a set of data points, calculated as the average squared deviation from the mean of the data.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the data points are.

Range

The difference between the highest and lowest values in a dataset, indicating the spread of the data.