Statistical Sampling Is Widely Used for the Purposes of Estimation

question 128

Multiple Choice

Statistical sampling is widely used for the purposes of estimation in auditing due to its many advantages.Which of the following is NOT an advantage of statistical sampling in auditing?

• A) It allows auditors to generalise their results to the population with a known sampling error.
• B) It allows auditors to combine, and then evaluate collectively, samples collected by different individuals.
• C) The results are objective and defensible.
• D) None of the above.

Analyze the impact of natural resources and geography on the development of ancient civilizations.

Understand the fundamentals of statistical process control (SPC) and its importance in quality control.

Calculate and interpret control limits and process capabilities in different control chart types (e.g., X-bar, R-chart, p-chart, and c-chart).

Analyze sample data to determine if a process is in statistical control.

---

Definitions:

Attitude Change

Attitude Change refers to the process by which an individual's feelings, beliefs, or positions on a topic are altered, often as a result of persuasion, new information, or personal experiences.

Cognitive Dissonance

The psychological unease felt when an individual simultaneously possesses conflicting beliefs, ideas, or values.

Festinger

Festinger was a social psychologist known for cognitive dissonance theory, which explains the discomfort one feels when holding conflicting beliefs, attitudes, or values.

Attraction

A force that draws individuals together, leading to friendships, romantic relationships, or other forms of social interactions.