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Sample size determination or estimation is the act of choosing the number of observations or replicates to include in a statistical sample. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample. In practice, the sample size used in a study is usually determined ...
Probability-proportional-to-size sampling. In survey methodology, probability-proportional-to-size (pps) sampling is a sampling process where each element of the population (of size N) has some ( independent) chance to be selected to the sample when performing one draw. This is proportional to some known quantity so that .
Sampling risk. Sampling risk is one of the many types of risks an auditor may face when performing the necessary procedure of audit sampling. Audit sampling exists because of the impractical and costly effects of examining all or 100% of a client's records or books. As a result, a "sample" of a client's accounts are examined. [1]
Sampling (statistics) In statistics, quality assurance, and survey methodology, sampling is the selection of a subset or a statistical sample (termed sample for short) of individuals from within a statistical population to estimate characteristics of the whole population. The subset is meant to reflect the whole population and statisticians ...
In statistics, stratified sampling is a method of sampling from a population which can be partitioned into subpopulations . Stratified sampling example. In statistical surveys, when subpopulations within an overall population vary, it could be advantageous to sample each subpopulation ( stratum) independently.
Methods from Discussion Paper 6: Audit Risk and Materiality, as issued in July 1984. These methods offer a suggested range for the calculation of materiality. Based on the audit risk, the auditor will select a value inside this range. [failed verification] 0.5% to 1% of gross revenue; 1% to 2% of total assets; 1% to 2% of gross profit;
Acceptance sampling. Acceptance sampling uses statistical sampling to determine whether to accept or reject a production lot of material. It has been a common quality control technique used in industry. It is usually done as products leave the factory, or in some cases even within the factory. Most often a producer supplies a consumer with ...
p-chart. In statistical quality control, the p-chart is a type of control chart used to monitor the proportion of nonconforming units in a sample, where the sample proportion nonconforming is defined as the ratio of the number of nonconforming units to the sample size, n. [1]
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