When Using Statistical Sampling, the Auditor Would Most Likely Require

question 125

Multiple Choice

When using statistical sampling, the auditor would most likely require a smaller sample if the

• A) population increases.
• B) desired reliability decreases.
• C) desired precision interval narrows.
• D) expected exception rate increases.

---

Definitions:

Subcategories

Specific groups or divisions within a larger category, used to further classify items or data.

Box Plot

A graphical representation of statistical data based on the minimum, first quartile, median, third quartile, and maximum, showcasing the distribution's spread and central tendency.

Median

The middle value in a data set, which divides the data into two halves with an equal number of observations above and below it.

Mean

The average value of a set of numbers, calculated by dividing the sum of all the values by the number of values.