Which of the following statements is true with respect to sample size. t distributions are symmetric and unimodal b.
- The t-distribution is more spread out than the standard normal distribution. An auditor who uses statistical sampling for attributes in testing internal controls should reduce the planned reliance on a prescribed control when the: a. The larger the population, the larger the sample size that is required. Statistics and Probability. The level of confidence is the compliment of the level of significance. For a large enough sample size, the Central Limit Theorem states that the sample means of repeated samples of a population are normally distributed. (A) An increase in sample size from n = 16 to n = 25 will produce a sampling distribution with a smaller standard deviation. c) The sampling distribution of sample mean is approximately normal, mound-shaped, and symmetric for n > 30 or n = 30. 2. A 95 percent confidence interval computed from the sample weights to estimate the mean weight of oranges of this variety is (7. Quiz Chapter 8 -c. They are commonly used to collect primary data. The Central Limit Theorem 2. C) population unit. Dr. As the sample size increases, the variability in the sample means decreases. - When using it, an individual makes some estimate of the characteristic of interest. The sample size is too small. A. ) If materiality increases, so will the sample size. If the sample size is 160 instead of 160, what will the confidence interval be? 3. Confidence intervals for proportions always have a critical value found on the standard normal distribution. To detect a mean difference in SFQ score of 2 point (SD = 4. 53) at 72 weeks with a two-sided significance level of 1% and power of Refer to Exhibit 8. All accounts are usually expressed as a percentage of sales. e. 72) ounces. Thus, we can say that: A larger sample size increases generalizability of the study. D. If the desired level of assurance increases, sample sizes can be smaller. The t-distribution is more spread out than the standard normal distribution. C) Sample sizes for non-statistical sampling should be comparable to statistical sampling. Blinded sample size re-estimation (SSR) design is a flexible design with the main purpose of allowing the sample size of a study to be reassessed mid-way into the study to ensure sufficient power without unblinding the interim data i. 3%, so we conclude that the control is not working effectively. D) random sample. 00. The ten data points in the sample are all equal in numerical value. Both result in non-representative samples. B) The expected population deviation rate can either be based on prior audits or a small sample of controls examined in the current year. 4. . A smaller sample size decreases the accuracy of the study. , Which of the following statements is ordinarily not correct about the sample size in statistical sampling when testing controls? and more. The other most common confidence intervals are 90% and 99%. It focuses on the relations among financial statement accounts over time. Which of the following statements is true with respect to the sampling distribution of a proportion? Select one: a. Jun 29, 2024 路 Study with Quizlet and memorize flashcards containing terms like Which of the following statements is true of the tolerable rate of deviation? a. None of these statements is true. The Study with Quizlet and memorize flashcards containing terms like Which of the following statements is true about the family of t distributions? a. Auditors are required to use professional judgment in evaluating the sample results in a Which of the following statements is true with respect to the confidence level associated with an estimation application A. A larger sample size increases the accuracy of the study. Which of the following statements is true with respect to sample size? a. 5%, the sample deviation rate is 2%, and the risk of assessing control risk too low is 5%? Each of the following statements is true. note that it is not normally distributed. When using it, an individual makes some estimate of the characteristic of Which of the following statements is NOT true according to the Central Limit Theorem? Select all that apply. budgetdata collection methods**findingsliterature review. It focuses on the relations among financial statement accounts at a given point in time. The binomial distribution becomes more skewed as the sample size is increased for a given probability A research proposal is designed to allow the prospective scientist to describe what you intend to accomplish and will include all but which of the following. It is a rate of deviation set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the rate of deviation set is not exceeded by the actual rate of deviation in the population. Which of the following is not true with respect to the risk of incorrect rejection? A. Preliminary engagement activities include. As the sample size decreases, the variability in the Jul 2, 2024 路 Which of the following statements best describes a relationship between sample size and other elements of auditing? A. Preview. The population has a standard deviation of zero. the greater the number of subgroups of interest to the study, the larger the sample. An increase in the sample size will result in an increase in the size of the standard deviation. 5%. Individuals may fail to obtain a true understanding of the question they are examining. , 2) Which of the following is not an advantage of statistical sampling? A) Statistical sampling provides auditors with a sufficient sample size that controls Jul 8, 2024 路 Which of the following is true with respect to the risk of incorrect acceptance? The risk of incorrect acceptance has an inverse relationship with sample size. There is no direct relationship between population size and the size of the sample required to estimate population parameters. The questions are open-ended. In nonstatistical sampling, evaluation The auditor’s allowable risk of overreliance. If the entire inventory contained 2,400 items and the total recorded value of the inventory was $480,000, the estimated account balance using mean per unit estimation is. Question: Concerning confidence intervals, which of the following statements is true? Select one: As the confidence level increases, the width of the confidence interval decreases. c. The degree of accuracy associated with the confidence interval estimate. If the sample size is very small, a judgmental sample may be more reliable and representative than a Study with Quizlet and memorize flashcards containing terms like If you wanted to find out whether the amount of punishment used had an effect on how long it took to housebreak puppies, you would most likely use a factorial design. - If the sample size is large, the distribution of s; Consider a population with a mean of 100 and variance of 900. The determination of sample size should not involve cost. There is an inverse relationship between the expected population deviation rate and the sample size. Click the card to flip 馃憜. e. For his research methods class project, Hiro is studying the effect of pet ownership on stress levels. The risk of incorrect acceptance exposes the auditor to an efficiency loss. convert that sample size to a z-score. The sample is determined using multiple random starts and includes more items than required. All of these statements are true. If materiality decreases, sample size will need to increase. representative sample. Which of the following factors determine the choice of an appropriate measure of central tendency? a d. Judgmental sampling is used by the auditor to offset any sampling bias. See Answer. A 90% confidence interval for the population proportion of professional tennis players who earn more than 2. Power varies directly with the alpha level (a). Study with Quizlet and memorize flashcards containing terms like In analyzing the relationship between two variables, a scatter plot cannot be used to detect which of the following?, If the population correlation between two variables is determined to be -0. true. C. The allowance for sampling risk was: a. *95% confidence = 1. Which of the following statements is not true? a) The sampling distribution of sample mean is approximately normal, mound-shaped, and symmetric for n> 30 or n = 30. The sample size needed to estimate a population mean within Steps to solve a problem that is not normally distributed and also has a sample size over 30. Increase the tolerable rate of deviation. Which one is true because of the Law of Large Numbers? - If the sample size is large, the sample mean \bar{x} will likely be close to the population mean \mu. Which of the following statements is true regarding nonstatistical sampling? A) It quantifies the auditor's exposure to sampling risk. B) The confidence level is a percentage value between 50 and 100 that corresponds to the percentage of all possible confidence intervals, based on a a. True b. Nonsampling risk D. c. Step 1. The sampling distribution will be approximately Normal The binomial distribution tends to be more symmetric as p approaches 0. Which of the following statements is true with respect to common-size balance sheets? SFQ standard deviations vary between treatment, control, and the wait-list samples, ranging from 3. B. Phone interviews b. ) Which of the following statements is true with respect to the confidence level associated with an estimation application? A) The degree of accuracy associated with the confidence interval estimate. 100. Power varies directly with the size of the real effect of the independent variable. B) The distribution is normal regardless of the sample Statistics and Probability questions and answers. In order for. larger. The auditor's report is generally addressed to the. We have based our sample size estimate on the most conservative (i. He designed a study to examine the criminal Which of the following statements about the study of auditing is NOT true? The study of auditing focuses on learning the rules, techniques, and computations required to analyze financial statements. 70, which of the following is known to be true?, If a sample of n = 30 people is selected and the sample correlation between two variables Study with Quizlet and memorize flashcards containing terms like Audit sampling is commonly used for which type of audit evidence?, Auditing standards permit both statistical and nonstatistical methods of audit sampling. The inability of the auditor to rely on the internal control as planned. probability In testing an internal control, the risk that the sample supports a conclusion that the control is not operating effectively when, in truth, the control is operating effectively is the risk of ______. A random sample of size 10 was taken from a population. 96. In nonstatistical sampling, sample size is determined by auditor judgment. Low sampling costs do. Random number tables are used to determine the items included in the sample. Study with Quizlet and memorize flashcards containing terms like A variable which has two attributes such as gender, is what type of variable?, Confidence levels allow the researcher to have some idea of With respect to constructing survey questions, all of the following statements are true EXCEPT: Surveys tend to underestimate the racial tolerance of the American people The authors of the textbook argue that Americans behave as ideal citizens as a ________________, although as __________ they do not Jul 2, 2024 路 Which of the following statements best describes a relationship between sample size and other elements of auditing? A. Which of the following statements about sample size is false? a. Answer: b. 32) Which of the following statements is true with respect to the sampling distribution of a proportion? A) The mean of the sampling distribution will equal the population proportion. Analytical procedures risk B. B) As long as the sample size is sufficiently large, the sampling distribution will be approximately normal. The sample mean is greater than the sample median. These critical values vary based on the degree of confidence. The risk of incorrect acceptance may occur when the true (but unknown) account balance is fairly stated. Everyone responds by choosing from among the same set of possible answers. D) population. (B) The mean of a sampling distribution of sample means is equal to the population mean divided by the square 4. As the degrees of freedom increase, the t distributions approach the Normal distribution, Suppose we are making a 95% Jun 20, 2024 路 Study with Quizlet and memorize flashcards containing terms like Systematic selection can be expected to produce a representative sample when A. 6). All accounts are usually expressed as a percentage of net income. Which of the following statements is true with respect to the sampling distribution of a proportion? A) The mean of the sampling distribution will equal the population proportion. Jun 20, 2024 路 Audit Ch. the null hypothesis is the condition a researcher hopes to support b. Increasing increases power. The sample size does not influence the distribution of the test statistic, neither the center nor the shape. This is good news; no deviations were found, so we conclude that the control is working effectively. 1 Learning Objective 15-1 1) A sample in which the characteristics of the sample are the same as those of the population is a(n) A) variables sample. As long as the sample size is sufficiently large, the sampling distribution will be approximately normal. $393,600. Which of the following statements regarding sample size are true? _____Larger sample sizes are advantageous because the resulting statistics will have less variability. more subjects are always better. The t-distribution is symmetrical. without allowing trialist know which treatment group interim data is from. As the population size increases, the sample size should increase proportionately. Correct Answer: d) It has a normal distribution with the same mean as the popul Which of the following is true regarding the sampling distribution of the mean for a large sample size? It has the same shape, mean and standard deviation as the population. Study with Quizlet and memorize flashcards containing terms like Which of the following sampling methods would be used to estimate a numeric measurement of a population as a dollar value?, A number of factors influence the sample size for a substantive test of details of an account balance. The probability that the confidence interval estimate will contain the true population value. Auditors are required to use professional judgment in evaluating the sample results in a nonstatistical sampling application. Which of the following statements is true concerning statistical sampling in tests of controls? A. If planning materiality increases, so will the sample size. Answer: A Terms: Sampling risk controlled by Diff: Easy Objective: LO 15- AACSB: Reflective thinking. ) If materiality decreases, the sample size will need to increase. It cannot be used in an audit conducted in accordance with generally accepted auditing standards. The sample has a standard deviation of zero. C) An increase in the sample size will result Which of the following statements are true with respect to the data 71, 73, 71, 65, 707 The mode, median, ard mean are the same & The median and mean are both 70 e. 5. Jul 8, 2024 路 An increase in the desired level of audit risk from 3% to 5%. False, Which of the following statements is NOT true with respect to the oral research presentation? a. In statistical sampling, the sample must be randomly selected to give each unit in the population an equal chance to be included in the sample. Which of the following is not true with respect to the use of nonstatistical sampling? Multiple Cholce The use of nonstatistical sampling does not peimit the audisor to control exposure to the risk of overreliance The use of nonstatistical sampling is permissible under gerierally accepted auditing standards. Which of the following statements about the sampling distribution of the sample mean, x-bar, is not true? A) The distribution is normal regardless of the shape of the population distribution, as long as the sample size, n, is large enough. the sampling distribution of the means will be positively skewed when graphed. It focuses on the relations among income statement accounts, but not balance sheet accounts. None of the above B. Both result in representative samples. Using an appropriate method of selecting sample items No Yes. The difficulty and expense of obtaining audit evidence about an account balance is a valid basis for omitting the test. Which of the following statements is true with respect to common-size income statements? Multiple Choice All accounts are usually expressed as a percentage of cost of goods sold. Many listeners may not be able to understand the technical aspects of the research. if question says "greater than", subtract answer by 1. In determining the tolerable. 5. B A decrease in the expected misstatement will decrease the sample size. Study with Quizlet and memorize flashcards containing terms like Which of the following is not necessary in the construction of closed-ended questions?, The estimated probability that a population parameter is within a specified confidence interval is a:, _______ forms the basis of probability theory and the statistical tools we use to estimate population parameters, standard error, and c. It considers a number of factors in determining the appropriate sample size. Which of the following statements is true with respect to the sampling distribution of a proportion? The mean of the sampling distribution will equal the true population proportion. B) representative sample. Study with Quizlet and memorize flashcards containing terms like Which of the following statements about hypothesis testing is correct? a. Provide assurance regarding whether the auditee's financial statements are fairly stated. the alternative hypothesis is the proposition considered true without conclusive evidence to the contrary c. The initial size for an attribute sample is based on (1) the desired assurance (complement of the risk of overreliance) that the tolerable population deviation rate is not exceeded by the actual rate, (2) the tolerable population deviation rate, (3) the expected population deviation rate Jul 8, 2024 路 Study with Quizlet and memorize flashcards containing terms like The main difference between the two popular forms of organizing an oral report are where the conclusions are introduced. A sample in which the characteristics of the sample are the same as those of the population is a (n): A) variables sample. The power or an experiment is greater for large offects than for small effects 02-Power + Betap)-1. A client's accounting records can be sufficient audit evidence to support the financial statements. A conclusion cannot be made without a specified tolerable deviation rate. a. A t distribution is skewed not symmetric. Question 10 1 pts According to the Central Limit Theorem, if the population is negatively skewed: the sampling distribution of the means must also be negatively skewed when graphed. d. As the Which of the following statements is not true with respect to the evidence that would be gathered when assessments of control risk are high? Auditors would be required to confirm a larger number of customer accounts receivable balances. If performance materiality decreases, sample size will need to increase. A rule of thumb is to include at least two members from every subgroup to be analyzed. 1. Question: Which of the following statements is true?Question 8 options: The expected value of the sample mean stays the same when the sample size increases. Test of details risk, The sampling method used to examine a population when the auditor wants to estimate a continuous amount (or Study with Quizlet and memorize flashcards containing terms like Errors in reasoning about conditional statements are less common when__________. , A subset of people selected from a Study with Quizlet and memorize flashcards containing terms like With respect to mammalian cell culture, which of the following statements is true?, In the figure, spleen cells from a mouse were treated with a red fluorescent monoclonal antibody specific for the CD3 cell-surface protein and with a green fluorescent monoclonal antibody specific for a second cell-surface protein, Thy1. make sure sample size is over 30. _____For quantitative variables, larger sample sizes will lead to approximately normal distributions of , even when the Study with Quizlet and memorize flashcards containing terms like 15. Study with Quizlet and memorize flashcards containing terms like 1) The set of items about which a conclusion is made in a sampling application is referred to as a(n) A) sampling unit. C) attributes sample. sample rate of deviation plus the allowance Green audited 120 items from a sample and found an audited value of $24,600. The policy process, like the research process in general, is fluid and does not always "start at the beginning and conclude at the end". ) Incorrect rejection occurs when the auditor concludes that the account balance is not fairly stated B. QUESTION 16 With respect to power and its relationship with alpha, beta, and sample size, all of the following statements are true, except: O 1. A) True B) False, One of the characteristics of a good hypothesis that it predicts a(n) ______ relationship between variables. , Which of the following affords the researcher the most sample control with respect to getting cooperation from the respondent? a. Which of the following statements must be true. It has a normal distribution with the same mean and standard deviation as the Which of the following statements is true with respect to a point estimate? null hypothesis is true 3. Which of the following statements is most correct? A) A sample of all items of a population will eliminate sampling risk, but increase nonsampling risk. In summary, the concept is that a larger sample size will provide better results since more members of the population is considered. What is the primary drawback with respect to the use of sampling? a. The mode and mean are both 71 d The mode is 71 7 SELECT ALL THAT APPLY. Auditors would be required to obtain more evidence through direct personal observation. Question: 41. The sample had a recorded value of $30,000. 58, 8. Which of the following statements is true with respect to the t-distribution? - The exact shape of the t-distribution depends on the number of degrees of freedom. Q26. Quinn is interested in recidivism among inmates released from boot camps. b) The expected value of the sample mean, X, is always the same as the expected value of X, the distribution of the population from which the sample was taken. A Which of the following statements best describes a relationship between sample size and other elements of auditing? A. the alternative hypothesis exhausts all potential parameter values not Classical variables sampling considers the standard deviation in determining sample size and evaluating sample results, while MUS methods do not consider the standard deviation. d) The larger the Step 1. If materiality increases, so will the sample size. All other factors being equal, which of the Step 1. Which of the following is true with respect to the auditor's report? Which of the following is not a concept that is included in the scope paragraph of the auditor's report? Study with Quizlet and memorize Which of the following statements is true with respect to non-statistical sampling? - It considers a number of factors in determining the appropriate sample size. B) Its use is required by the Public Company Accounting Oversight Board for small public company audits. Study with Quizlet and memorize flashcards containing terms like Which of the following statements applies to a point estimate?, The general format for a confidence interval is:, The confidence level is a percentage value between 50 and 100 that corresponds to the percentage of all possible confidence intervals, based on a given sample size, that will contain the true population value. The sufficiency and appropriateness of See Answer. , largest) SD [Standard deviation]. Statistics and Probability questions and answers. and more. Which of the following statements is (are) true with respect the to sampling distribution of sample means? Question 6 options: When the population has a normal distribution, the sampling distribution of the sample mean is normally distributed for any sample size. 78 to 4. ) Which one of the following statements is true about the dispersion of the distribution of sample means? As the sample size increases, the variability in the sample means approaches the population standard deviation. The auditor then determined the upper limit rate of deviation to be 8%. Force mean and SD to be normal by using formula. ) The risk of incorrect rejection has an inverse relationship with sample size C. , When testing internal controls, which of the following statements is not true with respect to the use of nonstatistical sampling? a. Question: 5. Which of the following is true with respect to the binomial distribution? As the sample size increases, the expected value of the random variable decreases. b. 5 million dollars a year is found to be between . Question: Which of the following statement is true about one sample mean test? Assume that samples are randomly selected and the sample size is greater than 30 with no extreme outliers. 8: Which of the following statements is not true with respect to the risk of incorrect acceptance? A) Study with Quizlet and memorize flashcards containing terms like A sample in which the characteristics of the sample are the same as those of the population is a(n):, When the auditor decides to select less than 100 percent of the population for testing, the auditor is said to use:, To determine if a sample is truly representative of the population, an auditor would be required to: and more. An increase in the sample size will result in a reduction in the size of the standard deviation. B) sample. An increase in the desired level of audit risk from 3% C. A test of controls is an application of attribute sampling. An inability to appropriately use analytical procedures in the audit examination. 3. Risk of Material Misstatement C. 15. - The t-distribution is symmetrical. As the sample size increases, the width of the confidence interval decreases. Fifty oranges of one variety were selected at random and weighed. z = 1. t distributions have fatter tails and narrower centers than Normal models c. The z value that is found is given the notation z∗. Which of the following statements is true with respect to the t- distribution? a. Which of the following statements are true with respect to using this sample to estimate p, the proportion of all TV news viewers that favor such a ban on smoking in public places? A 99% confidence interval for the mean μ of a population is computed from a random sample and found to be 6 ± 3. Question 9 With respect to power and its relationship with alpha, beta, and sample size, all of the following statements are true, axcept 1,Power varies directly with the size of the real effect of the independent variable. 4 and determine which of the following statements is true. An increase in the susceptibility of the account balance to misstatement. The time spent in planning and selecting the sample may exceed the time savings from examining only a subset of the items. 1%. , Which of the following is true with respect to the representativeness heuristic?, Which of the following is true with regard to the role of emotions in decision making? and more. The basic purpose of a financial statement audit is to C. The higher the level of confidence, the larger the sample size that is 8) Which of the following statements is correct concerning statistical sampling in tests of controls? A) As the population increases, the sample size should increase proportionally. Holding constant at a 95% level of confidence, if the standard deviation increases, then the sample size required to represent the population in question will be _______. b. large samples increase sampling error. The larger the sample variance, the larger the sample size that is required. t distributions are symmetric and unimodal b. C) The allowable risk of assessing control risk too low has no effect on the planned sample size. 65 and 75. The Hypotheses Theory The Rules of Sampling Distribution 4 The Laws of Gravity with respect to power and its relationship with alpha, beta, and sample size, all of the following statements are true, except: Power varies directly with N. B) As the likely rate of deviation decreases, the auditor should increase the planned sample size. Which of the following statements about sample size is false? d. Which two of the following statements are correct regarding factors which influence sample sizes for tests of controls? A An increase in the number of sampling units within the population will increase the sample size. Which of the following statements is not true? b) The expected value of the sample mean, X, is always the same as the expected value of X, the distribution of the population from which the sample was taken. An auditor would issue an adverse opinion if. This term is sometimes Statistical sampling uses the laws of _____ to compute sample size and evaluate the sample results. Math. For the Central Limit Theorem to be true, you must have a large sample, the underlying population must be normally distributed, and the standard deviation should not be铿乶ite. the sampling distribution of the means will be normally distributed if the sample A) The auditor should consider the tolerable rate of deviation from the controls being tested in determining sample size. Oct 21, 2023 路 Audit Chapter Module E. , 2) When the auditor decides to select less than 100 percent of the population for testing, the auditor is said Study with Quizlet and memorize flashcards containing terms like Which component of the expanded audit risk model is most closely associated with the risk of incorrect acceptance? A. 53. use small samples when mailing questionnaires. Which of the following statements about sample size is true? a. D Which of the following statements is true in an attribute sampling plan where the tolerable deviation rate is 7%, the computed upper deviation rate is 6. 2. The exact shape of the t-distribution depends on the number of degrees of freedom. Question. An increase in the sample size will result in Study with Quizlet and memorize flashcards containing terms like Which of the following statements about audit evidence is true? A. The upper limit of deviations is 7. ) If the desired level of assurance increases, sample sizes can be smaller. Which of the following statements is true with respect to the confidence level used? Which of the following statements is not true with respect to nonstatistical sampling?a. -overreliance -assessing control Adjusting the sample size. Given this information, what was approximately the sample size that was used? 4. When testing internal controls, which of the following statements is not true with respect to the use of nonstatistical sampling? Multiple Choice Nonstatistical sampling is permitted in the audits of both public and nonpublic entities Nonstatistical sampling does not require the use of random selection techniques When using nonstatistical sampling, auditors are required to quantify the Question: When testing internal controls, which of the following statements is not true with respect to the use of nonstatistical sampling? When using nonstatistical sampling, auditors are required to quantify the parameters used to determine sample size. Both randomly sample subgroups to be studied. mf bf ue es ny of ly dt ik zp
