Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Question
Chapter 6, Problem 2P
To determine
Explain why sampling is still used, and how it is useful.
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What is Discovery Sampling?
Sampling, rather than surveying an entire population, can offer some substantial benefits. Some of those benefits include
O eliminating the risk of error.
O saving money and time.
O obtaining less variability in the data set.
How does Block Sampling compare to other sampling methods?
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Similar questions
- What are the two main variables the researcher should consider collecting data for the purpose of the above analysis and why? Identify the data type(s) for the variablesarrow_forward1. Which of the following would be designed to estimate a numerical measurement of a population, such as monetary value?* A. Sampling for variables B. Sampling for attributes C. Sequential sampling D. Discovery sampling E. None of themarrow_forwardWhat factors affect sample size?arrow_forward
- Understand how to use sequential sampling,discovery sampling, and nonstatisticalsampling in attributes testing.arrow_forwardWhat is the primary use of a p-value in statistics? a) To measure the central tendency b) To assess the strength of evidence against the null hypothesis c) To calculate the mean d) To measure the spread of dataarrow_forwardwhy we still need forensic accounting?arrow_forward
- An advantage of statistical sampling over nonstatistical sampling methods is that statistical methodsa. Afford more assurance than a nonstatistical sample of equal size.b. Provide an objective basis for quantitatively evaluating sampling risk.c. Can more easily convert the sample into a dual-purpose test useful for substantive procedures.d. Eliminate the need to use judgment in determining appropriate sample sizesarrow_forwardIdentify the Sampling technique shown in .this picture (ihä 1) Simple Random Sampling O Systematic Random Sampling O Stratified Random Sampling O Cluster Sampling Oarrow_forwardWhich of the following pairs of selection methods could appropriately be used in statistical sampling applications?a. Unrestricted random selection, block selection.b. Block selection, haphazard selection.c. Systematic random selection, haphazard selection.d. Unrestricted random selection, systematic random selection.arrow_forward
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