Which of the Following Statistical Selection Techniques Is leastdesirable for Use

question 43

Multiple Choice

Which of the following statistical selection techniques is leastdesirable for use by an auditor?

• A)Systematic selection.
• B)Stratified selection.
• C)Block selection.
• D)Sequential selection.

Analyze the effects of overconfidence and over-optimism on managerial decisions.

Understand the role of behavioral finance in financial planning and forecasting.

Discuss the consequences of various cognitive errors in investment and financial planning.

Identify strategies to mitigate the impact of behavioral biases in financial decisions.

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Definitions:

Lewin's Force Field Model

A model that describes organizational change as a state of imbalance between forces pushing for change and those resisting it.

Unfreezing

Involves the process of making an organization or individual ready for change, by breaking down existing norms and behaviors.

Refreezing

The phase in the change process where new behaviors, values, and attitudes are solidified as the new status quo.

Force Field Analysis

A management technique developed by Kurt Lewin, used to identify all the forces for and against a decision or a change, helping to visualize and analyze the situation for better decision-making.