A 95 Percent Confidence Level in Statistical Sampling Means There

question 48

True/False

A 95 percent confidence level in statistical sampling means there is more than a 5 percent sampling risk which the auditor needs to address in the sampling design.

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Definitions:

Equally Distributed

A situation or condition in which resources, wealth, or opportunities are shared evenly amongst all participants or members of a group.

Program

A set of planned activities or instructions designed to achieve a specific outcome, which can be implemented through software in computing or policy in government and organizations.

Lyndon Johnson

The 36th President of the United States, serving from 1963 to 1969, known for his domestic policies like the Great Society and civil rights advancement.

Official Poverty Line

The base level of earnings needed to secure a decent standard of living within a particular country.