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Nonstatistical Sampling Describe Nonstatistical Sampling and How It Is Used by the by the Auditor

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Nonstatistical sampling
Describe nonstatistical sampling and how it is used by the auditor.


Definitions:

Market Portfolio

A theoretical portfolio of all assets in the market, with each asset weighted according to its market capitalization.

Efficient Frontier

A concept in modern portfolio theory which represents a set of optimal portfolios that provide the highest expected return for a defined level of risk or the lowest risk for a given level of expected return.

Indifference Curve

A curve connecting all portfolios with the same utility according to their means and standard deviations.

Expected Rate of Return

The anticipated return on an investment, comprising both the risk-free rate of return and additional returns expected for taking on extra risk.

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