We hear all the time about probability theory in different science fields when testing hypotheses, but...
We hear all the time about probability theory in different science fields when testing hypotheses, but not as much in auditing. Why do you think that is the case?
Homework Answers
Profitability theory relates to random phenomenan by taking random sample space and testing their correctness. The outcome of these random events cannot be determined, so probability is done.
It is true that probability theory is used in different science fields when testing hypothesis but not much in auditing. This is because auditing is such a systematic and independent examination of books where the correctness of audit reports plays an important role.
Almost every investor relays on audit reports provided by the auditor's and such audit reports cannot be prepared on the basis of probability/assumptions. This is one of the main reason why probability is not much used in auditing.
Otherwise, in science fields when testing hypothesis probability can we easily used to determine the correctness of various situations and not so in case of auditing.
Add Answer to:
We hear all the time about probability theory in different
science fields when testing hypotheses, but...
when it comes to lending we often hear about the front end and back end ratio...
when it comes to lending we often hear about the front end and back end ratio that lenders use for primary homes. However, the rule is not as clear in the investment space. With that said what do you think is the optimal debt level? 15%, 25%, or maybe 30%? Additionally, do you think that once equity builds up and the leverage reduces that we should re-finance to buy more so that we maintain our preferred debt level?
Think about a time you heard a disorganized speech. We all have at one time or...
Think about a time you heard a disorganized speech. We all have at one time or another! What could have been done to organize the speech to make the message clearer? What is your plan for organizing the content of your informative speech in an engaging and meaningful way? Why are visuals important? What are some main do's and don't's when using visuals?
QUESTION1 We do an experiment several different times. We get different answers each time. What should...
QUESTION1 We do an experiment several different times. We get different answers each time. What should we do? Consider whether what you're measuring is always the same or could change orhave some randomness built in You should always get exactly the same answer every time you do an experiment.げyou dont you're doing something wrong Think about how well you can use the measuring instrument, inciuding any problems you expect Figure out how accurate your measuring instruments) is. Figure out a...
Review the T accounts presented in Chapter 3. 1. What do you think of when you hear...
Review the T accounts presented in Chapter 3. 1. What do you think of when you hear the word debit? What do you think of when you hear the word credit? 2. What does our textbook say about debits and credits? 3. How would you describe the left and right side of each type of Balance Sheet Account and Income Statement Account? 4. Our eBook describes how to calculate an account balance. Can you describe this process for the Cash account in your own...
Think back over all of material we have covered this term. What idea, concept, or theory...
Think back over all of material we have covered this term. What idea, concept, or theory has been most meaningful to you and why? Alternatively, discuss what idea, concept, or theory you think every team should be aware of and why.
Diego is testing a claim about a population mean. The hypotheses are: Ho: u = 137...
Diego is testing a claim about a population mean. The hypotheses are: Ho: u = 137 H: 4 > 137 After taking a simple random sample of 58 subjects, he determines that the sample mean is 140. Diego then does some calculations and writes the following in his notebook: "If Ho were true, the chance that the sample mean would have come out as big (or bigger) than 0.17." What is the name given to the value of 0.17? o...
In chapter four we learn about the value stream or, "the set of all the specific...
In chapter four we learn about the value stream or, "the set of all the specific actions required to bring a specific product (whether a good, service, or increasingly a combination of the two) through the three critical management tasks of any business: the problem-solving task, the information management task and the physical transformation task." Furthermore, value streams must be used to drive improvement; documenting the current state is not enough. As you reflect on chapter four, think about and respond...
We hear the term database all the time. Give some examples of databases that you interact...
We hear the term database all the time. Give some examples of databases that you interact with on a regular basis. What makes a database relational? What is a file storage system? How does a relational database differ from a file storage system? Neat handwriting if decide to write.
1. When a sound wave passes through air, and we hear it, the air pressure where we are varies with time. the excess pressure above (and below) atmospheric pressure in a sound wave is given by the...
1. When a sound wave passes through air, and we hear it, the air pressure where we are varies with time. the excess pressure above (and below) atmospheric pressure in a sound wave is given by the graph below: p(t) t in seconds -1 (a) Show that the fundamental (n ) is 15 times smaller in amplitude compared to the second harmonic (n-2). Hint: Expand p() in a Fourier series to show this. It would be interesting to note that...
Performance enhancing drugs aren't just the drugs that you typically think of when you hear those...
Performance enhancing drugs aren't just the drugs that you typically think of when you hear those words. These drugs can be any supplement/medication that is designed to give you an edge. That means that ritalin can be included in this category. For this week's "today I learned" I want you to do some research on a performance enhancing drug. You need to learn about why people take that drug, what the side effects are and how many people are believed...
QUESTION1 We do an experiment several different times. We get different answers each time. What should we do? Consider whether what you're measuring is always the same or could change orhave some randomness built in You should always get exactly the same answer every time you do an experiment.げyou dont you're doing something wrong Think about how well you can use the measuring instrument, inciuding any problems you expect Figure out how accurate your measuring instruments) is. Figure out a...
Diego is testing a claim about a population mean. The hypotheses are: Ho: u = 137 H: 4 > 137 After taking a simple random sample of 58 subjects, he determines that the sample mean is 140. Diego then does some calculations and writes the following in his notebook: "If Ho were true, the chance that the sample mean would have come out as big (or bigger) than 0.17." What is the name given to the value of 0.17? o...
1. When a sound wave passes through air, and we hear it, the air pressure where we are varies with time. the excess pressure above (and below) atmospheric pressure in a sound wave is given by the graph below: p(t) t in seconds -1 (a) Show that the fundamental (n ) is 15 times smaller in amplitude compared to the second harmonic (n-2). Hint: Expand p() in a Fourier series to show this. It would be interesting to note that...
Most questions answered within 3 hours.
-
Zinc sulfide reacts with oxygen according to the reaction:
2ZnS(s)+3O2(g)→2ZnO(s)+2SO2(g) A reaction mixture initially
contains 3.4...
asked 56 seconds from now -
Using traditional
methods, it takes 9.0 hours to receive a basic flying license. A
new license...
asked 1 minute ago -
The EPA wants to test a randomly selected sample of n
n
water specimens and estimate...
asked 8 minutes ago -
A researcher performs a hypothesis test to test the claim that
for a particular manufacturer, the...
asked 10 minutes ago -
Prepare the adjusting entries, and post to the T-accounts.
a.
Office Supplies used during the month,...
asked 12 minutes ago -
G. Li, B. C. Ooi, J.
Feng, J. Wang, and L. Zhou. EASE: an effective 3-in-1...
asked 13 minutes ago -
The comparisons of Scholastic Aptitude Test (SAT) scores based
on the highest level of education attained...
asked 19 minutes ago -
A long solenoid has a diameter of 9.97 cm. When a current i
exists in its...
asked 27 minutes ago -
1. A motorcycle rider travels along a straight line with
constant velocity. He then throws a...
asked 43 minutes ago -
You are stopped at a red light at a freeway on-ramp. When the
light turns green,...
asked 42 minutes ago -
The freezing point of water H2O is 0.00°C at 1 atmosphere. How
many grams of manganese(II)...
asked 44 minutes ago -
explain the motives and methods for intrusion of the MS and Linux
operating systems
asked 43 minutes ago