Only State and Local Governments and Their Component Units Must

question 15

True/False

Only state and local governments and their component units must have single audits; colleges and universities and other not-for-profit organizations that expend federal financial awards are not required to have single audits.

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Definitions:

Chebysheff's Theorem

A statistical theorem that provides a minimum probability for the distribution of values within k standard deviations from the mean for any data set, regardless of the distribution's shape.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values from the average.

Standard Deviation

An indicator of the degree of variation or spread within a collection of numbers.

Variability

The extent to which data points in a data set differ from each other and from the mean.