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Author Question: When an accounting auditor randomly selects 20 accounts from all the accounts to check for accuracy, ... (Read 168 times)

s.tung

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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
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jlaineee

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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.


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