An important statistic to consider when using a statistical sampling audit plan is the population variability. The population variability is measured by the
A) sample mean.
B) standard deviation.
C) standard error of the sample mean.
D) estimated population total minus the actual population.

Question

Quizplus · Accepted Answer

The population variability is measured by the standard deviation, as it measures the degree of variability or dispersion within a population. The other options mentioned are not relevant for measuring population variability.

An Important Statistic to Consider When Using a Statistical Sampling