An Important Statistic to Consider When Using a Statistical Sampling

question 17

Multiple Choice

An important statistic to consider when using a statistical sampling audit plan is the population variability. The population variability is measured by the

• A) sample mean.
• B) standard deviation.
• C) standard error of the sample mean.
• D) estimated population total minus the actual population.

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Definitions:

Passing Through

A term used to describe a line, curve, or surface meeting or going through a particular point or set of points.

Points

Specific locations in a space, defined by coordinates, with no dimension or size.

Slope

The measure of the steepness of a line, typically represented as the ratio of the vertical change to the horizontal change between two points on the line.