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A Typical Procedure in the Audit of Property Is Examination

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A typical procedure in the audit of property is examination of public records to verify the ownership of the property.


Definitions:

Frequency Distributions

An arrangement of values that shows the frequency with which each value occurs.

Population Median

The middle value of a dataset when it is ordered from the smallest to the largest, representing the central tendency of the population.

Normal Approximation

Normal approximation is a statistical technique that applies the properties of the normal distribution to approximate the distribution of sample data or statistics.

Standardized Test Statistic

A value computed from sample data and the null hypothesis that measures how many standard deviations the sample data falls from the hypothesized value.

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