Examlex
To learn more about a company and its inherent risks,auditors can use which of the following resources?
Sample Size
The number of observations or units chosen from a population to participate in a statistical study, influencing the study's validity and conclusions.
Confidence Interval Estimate
A range of values derived from sample data that is likely to contain the value of an unknown population parameter, expressed at a given level of confidence.
Prediction Interval
An estimate of an interval in which future observations will fall, with a certain level of confidence, based on current sample data.
Expected Value
The average outcome or mean of a random variable, calculated as the sum of all possible values each multiplied by its probability of occurrence.
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