To Determine If a Sample Is Truly Representative of the Population

question 43

Multiple Choice

To determine if a sample is truly representative of the population, an auditor would be required to

• A) conduct multiple samples of the same population.
• B) never use sampling because of the expense involved.
• C) audit the entire population.
• D) use systematic sample selection.

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Definitions:

Discrete Random Variable

A variable that takes on a countable number of distinct values, often used in probability theory and statistics.

Expected Value

The long-run average value of repetitions of the same experiment or process, representing the central tendency.

Laws of Expected Value

Mathematical rules that describe the properties of the expected value, highlighting how it behaves with respect to various operations like addition and multiplication.

Probability Distribution

A mathematical description of the likelihood of various outcomes from a random process.