Which of the following is NOT a factor in determining sample size?
1.variability of the population
2.risk of unrepresentative sample selection
3.convenience
4. the researcher’s desired precision
3. convenience
If the sample size is determined based on convenience (convenience sampling method is used), the sample will not be representative of the population and hence, the result obtained will be biased. All other options given are factors in determining sample size.
Which of the following is NOT a factor in determining sample size? 1.variability of the population...
Which of the following is the least important factor in determining the size of a sample for testing internal control over financial reporting? The nature of the control The frequency of the control The physical location where the control is tested The prior experience with the control
Which of the following does not have to be considered in determining the initial sample size of a test of details? Acceptable risk of incorrect rejection Acceptable audit risk Estimate of misstatements in the population Tolerable misstatement
1. How do sampling distribution, population mean, sample mean, variability, sample size, and probability all relate to each other 2. How do probability, Type I Error, null hypothesis, and alpha all relate to each other
1. All of the following are considerations in determining a sample size EXCEPT: Number of subgroups to be profiled Diversity of population being studied Margin of error Total size of population Industry standards 2. The research director at LINK determined that guests from Texas had always been the most loyal customers over the years. Their behavior usually predicted guests’ behavior from other states. If business from Texas was good, it usually was good from other states, too. Recently, business from...
Chapter 9 Audit Sampling 1.Three factors that determine the sample size are the risk of assessing control risk too high, tolerable deviation rate, and the expected population deviation rate. a. True b.False 2.While performing a substantive test of details during an audit, the auditor determined that the sample results supported the conclusion that the recorded account balance was materially misstated. It was, in fact, not materially misstated. This situation illustrates the risk of a. Incorrect rejection b. Incorrect acceptance c....
A random sample of size n = 87 is taken from a population of size N = 847 with a population proportion p = 0.75. [You may find it useful to reference the z table.] a-1. Is it necessary to apply the finite population correction factor? a-2. Calculate the expected value and the standard error of the sample proportion. (Round "expected value" to 2 decimal places and "standard error" to 4 decimal places.) b. What is the probability that the...
A random sample of size n = 84 is taken from a population of size N = 931 with a population proportion p = 0.58. [You may find it useful to reference the z table.] a-1. Is it necessary to apply the finite population correction factor? Yes No a-2. Calculate the expected value and the standard error of the sample proportion. (Round "expected value" to 2 decimal places and "standard error" to 4 decimal places.) b. What is the probability...
A random sample of size n = 124 is taken from a population of size N = 3,835 with a population proportion of p = 0.63. [You may find it useful to reference the z table.] a-1. Is it necessary to apply the finite population correction factor? Yes No a-2. Calculate the expected value and the standard error of the sample proportion. (Round "expected value" to 2 decimal places and "standard error" to 4 decimal places.) b. What is the...
5. Consider the following "population"! 2,3, 4,5. Suppose that a random sample of size 2 is to be selected with replacement from this population. There are 16 possible samples ( order of selection does matter). Compute the sample mean for each of these samples and use that information to construct the sampling distribution of x. (Display it in table form.
Which of the following is used in attribute sampling to determine the sample size? a) Sampling risk, sample deviation rate, and tolerable deviation rate. b) Sampling risk, sample deviation rate, and expected population deviation rate. c) Sampling risk, tolerable deviation rate, and expected population deviation rate. d) Sample deviation rate, tolerable deviation rate, and expected population deviation rate.