There Are Many Kinds of Statistical Estimates That an Auditor

question 40

Multiple Choice

There are many kinds of statistical estimates that an auditor may find useful,but basically every statistical estimate in auditing is of either a quantity or of an error rate.The statistical terms that roughly correspond to "quantities" and "occurrence rate," respectively,are:

• A)Attributes and variable.
• B)Variables and attributes.
• C)Constants and attributes.
• D)Constants and variables.

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Definitions:

Valid

Refers to the extent to which a concept, conclusion, or measurement is well-founded and corresponds accurately to the real world.

Criterion Validity

Criterion validity refers to how well one measure predicts an outcome based on the criteria of another measure.

Future Setting

A scenario or context that is projected or anticipated to occur in a forward time frame.

Interrater Reliability

The level of agreement among multiple observers or raters on the assessment of a particular characteristic or attribute.