A)Describe Three Types of Sample Selection Methods Commonly Associated with Statistical

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The Answer is A)Three types of sample selection methods commonly associated with statistical audit sampling are:
•Simple random sample selection.Every possible combination of elements in the population has an equal chance of constituting the sample.
•Systematic sample selection.A probabilistic method of sampling in which the auditor calculates an interval (the population size divided by the number of sample items desired),and selects the items for the sample based on the size of the interval and a randomly selected number between zero and the interval size.
•Probability-proportionate-to-size sample selection.The probability of selecting any individual population item is proportional to its recorded amount.
B)In replacement sampling,an element in the population can be included in the sample more than once,whereas in nonreplacement sampling,an element can be included only once.Nonreplacement sampling is more common in audit practice.
C)In systematic selection,the auditor calculates an interval (the population size divided by the number of sample items desired)called the selection,or skip,interval.The auditor then randomly selects a number between zero and the interval size less one (i.e. ,if the interval equals 20,the random number is selected from 0 to 19).This number is the starting point for the sample selection;i.e. ,the document or transaction corresponding to the random number plus the first number in the population constitutes the first item in the sample.The second sample item is the interval added to the first number (first document number in the population plus the random number);the third item is determined by adding the interval to the second number,the fourth item is determined by adding the interval to the third number,and so on.

A)Describe Three Types of Sample Selection Methods Commonly Associated with Statistical

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A)Describe Three Types of Sample Selection Methods Commonly Associated with Statistical

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