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Discuss the Differences Between Errors, Fraud, and Illegal Acts

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Essay

Discuss the differences between errors, fraud, and illegal acts.Give an example of each.


Definitions:

Sampling Without Replacement

Once an element has been included in the sample, it is removed from the population and cannot be selected a second time.

Big Data

Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Volume

The amount of data generated.

Point Estimate

A single value estimate or guess of a population parameter based on sample data.

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