Q 107

Acceptable risk of incorrect rejection is the statistical risk that the auditor has concluded that a population is materially misstated when it is not.

Q 108

Difference estimation frequently results in smaller sample sizes than any other variables sampling method.

Q 109

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.