« previous next »

Author Question: When an accounting auditor randomly selects 20 accounts from all the accounts to check for accuracy, ... (Read 160 times)

s.tung

  • Hero Member
  • *****
  • Posts: 577
on: Jun 24, 2018
When an accounting auditor randomly selects 20 accounts from all the accounts to check for accuracy, she has selected:
 
  A) a personal observation.
  B) a sample from the population.
  C) a census.
  D) a convenience sample.

Question 2

Why is sampling from empirical data not advisable to use when defining an assumption?
 
  What will be an ideal response?
Statistics, Data Analysis, and Decision Modeling ¦ Evans ¦ 5th Edition
Buy Test-Bank


jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jun 24, 2018
Answer to Question 1

B

Answer to Question 2

While sampling from empirical data is easy to do, it does have some drawbacks. First, the empirical data may not adequately represent the true underlying population because of sampling error. Second, using an empirical distribution precludes sampling values outside the range of the actual data. Therefore, it is usually advisable to fit a distribution and use it for the assumption.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Accounts receivable cycle. Accounts receivable cycle.
Labeled parts of a check. Labeled parts of a check.
Science versus religion: What accounts for the conflict and tension that have existed between them? Science versus religion: What accounts for the conflict and tension that have existed between them?
A typical malfunction indicator lamp (MIL) often labeled “check engine.” A typical malfunction indicator lamp (MIL) often labeled “check engine.”
Check beans Check beans
Development Accounting Development Accounting
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library