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Learn how to choose the number of observations or replicates to include in a statistical sample. Find out the factors that affect sample size, such as confidence level, margin of error, and variability, and see examples of sample size formulas for different scenarios.
where N is the population size, n is the sample size, m x is the mean of the x variate and s x 2 and s y 2 are the sample variances of the x and y variates respectively. These versions differ only in the factor in the denominator (N - 1). For a large N the difference is negligible.
It can be used in calculating the sample size for a future study. When measuring differences between proportions, Cohen's h can be used in conjunction with hypothesis testing . A " statistically significant " difference between two proportions is understood to mean that, given the data, it is likely that there is a difference in the population ...
Materiality is a concept that relates to the importance or significance of an amount, transaction, or discrepancy in financial reporting. Learn how materiality is defined, assessed and applied in different contexts, such as auditing standards, accounting frameworks and securities regulation.
Learn how to calculate the standard error of a statistic, such as the mean, from a sample. Find out the factors that affect the standard error, such as sample size ...
Sampling risk is the possibility that an auditor's conclusion based on a sample is different from that reached if the entire population were subject to audit procedure. Learn about the types, effects, and methods of sampling risk in auditing, and how it relates to controls and statistical sampling.
A confidence interval is an interval that is expected to contain a parameter being estimated with a certain probability. Learn how to construct and interpret confidence intervals for different parameters and distributions, and how they relate to hypothesis testing and bootstrapping.
The sample extrema can be used for a simple normality test, specifically of kurtosis: one computes the t-statistic of the sample maximum and minimum (subtracts sample mean and divides by the sample standard deviation), and if they are unusually large for the sample size (as per the three sigma rule and table therein, or more precisely a Student ...